BPCL, VinFast to invest generously in Andhra Pradesh

Renowned organizations including BPCL and VinFast are looking to open shop in Andhra Pradesh, according to the latest reports. State Industries, Commerce, and Food Processing Minister TG Bharat announced that VinFast, a globally recognized electric vehicle manufacturer, has expressed interest in investing in Andhra Pradesh. Pam San Chou, CEO of Vinfast, along with company representatives, met with Chief Minister Chandrababu Naidu at the Secretariat on 10 July 2024.

The meeting, organized under the guidance of Minister TG Bharat, aimed to discuss VinFast’s potential investment of Rs 4,000 crores. The company, renowned in Vietnam, is considering establishing a vehicle and battery manufacturing plant in Orvakallu of the undivided Kurnool district, as well as in Krishnapatnam. TG Bharat conveyed that Chief Minister Chandrababu Naidu assured the VinFast representatives of the state government’s readiness to provide all necessary land and infrastructure for their investment.

Minister Bharat further mentioned that the specifics of concessions would be discussed within 30 days, and if favorable, the company would finalize the plant’s location. He highlighted that industrialists have been flocking to Andhra Pradesh since Chandrababu Naidu took office as Chief Minister. During the meeting, the Chief Minister outlined the state’s investment opportunities and urged VinFast to set up an EV and battery manufacturing plant in Andhra Pradesh, promising full cooperation and support from the state government.

BPCL Oil Refinery in Andhra Pradesh

Chief Minister Chandrababu Naidu also discussed the establishment of an oil refinery and petrochemical complex in Andhra Pradesh with Krishna Kumar, Chairman and Managing Director of BPCL, and other company representatives. This project could potentially attract an investment of around Rs 60,000 crores.

During his visit to Delhi, Naidu had previously discussed BPCL’s investments with central officials. Continuing those discussions, the BPCL representatives informed the Chief Minister that 4-5 thousand acres are required for the oil refinery and petrochemical complex. The Chief Minister asked the representatives to submit a complete project plan within 90 days, assuring them that the state would allocate the necessary land for the refinery. BPCL representatives committed to presenting a feasibility report by October.

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