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HPCL plans Rs 18,000-cr project in Vizag
Our Bureau
Hyderabad
,
April 4
Hindustan Petroleum Corporation Ltd (HPCL) is planning to set up a Rs 18,000-crore project at Visakhapatnam. The project involves a naphtha cracker, refinery and petrochemicals complex, according to the Vice- Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC), Mr B. P. Acharya.
Disclosing this while speaking at the anniversary celebrations of Jupiter Biosciences group here on Monday, he said the Gangavaram Port project will also be involved in the project. The details of the project were being worked out and an announcement would be made shortly, he said.
Stating that the Indian Institute of Life Sciences (IILS) would take off shortly, he said the building and infrastructure are already in place on a 30-acre campus adjacent to the University of Hyderabad at Gachibowli here. While Dr Reddy's Laboratories has contributed Rs 10 crore, the State Government is also pumping in Rs 10 crore. Pharma majors such as Pfizer and Novartis were also being invited to participate in the project, he said.
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