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The public sector oil companies such as the HPCL, ONGC and the GAIL have signed MoUs for investing ₹1.65 lakh crore in Andhra Pradesh on several projects, many of them in the Krishna-Godavari basin, according to Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan.
He was speaking at a session on Sunrise Andhra Pradesh on Friday at the partnership summit organised by the Confederation of Indian Industry and the Andhra Pradesh government.
The minister spoke about the importance of the Krishna-Godavari basin and the steps taken by his ministry to promote investment, both in the public sector as well as private sector, in the K-G basin for the economic development of the State. He said so far a sum of $20 billion had been invested in the basin.
Railway Minister Suresh Prabhu also spoke about larges-scale investments being made by his ministry in the country, including AP, and the resultant economic growth.
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