Business Daily from THE HINDU group of publications
Friday, Nov 03, 2006
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Business Daily from THE HINDU group of publications Friday, Nov 03, 2006 ePaper |
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New Projects Industry & Economy - Petroleum States - Andhra Pradesh
Our Bureau
The SEZ would include land for HPCL, Gangavaram port and several other related projects.
Hyderabad , Nov. 2 The Andhra Pradesh Government has decided to allot a 1500-acre site near Visakhapatnam to petroleum major Hindustan Petroleum Corporation Ltd (HPCL), in the proposed Special Economic Zone. HPCL has come up with a proposal for a mega project that would entail a total outlay of Rs 30,000 crore. According to a statement from the Chief Minister's Office, this is part of the 9,000-acre Special Economic Zone proposed to come up near Visakhapatnam. The SEZ would include land for HPCL, Gangavaram port and several other related projects. This incidentally is one of the 31 SEZs that the Centre has cleared for Andhra Pradesh. The HPCL management has come up with a proposal to invest up to Rs 30,000 crore spread across three major projects - refinery, aromatic plant, and naphtha cracker plant. This new project, in effect, would mean creation of additional capacities and diversification plans for HPCL, which has significant presence in Visakhapatnam with a refinery. The State Government has identified Visakhapatnam as a major centre and is working towards creating a pharma city and coastal corridor and expects to develop this as a high dense industrial hub leveraging the huge gas find in the Krishna-Godavari basin area. As per estimates, by 2008, KG basin is likely to offer gas from new fields.
More Stories on : New Projects | Petroleum | Hindustan Petroleum Corporation Ltd | Andhra Pradesh
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