Andhra Pradesh Government has allotted 6,000 acres of land situated near Ramayyapatnam Port in Nellore District on a cost basis, to Bharat Petroleum Corporation (BPCL) for setting up 9 to 12 MMTPA Greenfield Refinery cum Petrochemical Complex, which envisages an investment of about Rs 1 lakh crore.
The state government order gave in-principle approval of total financial incentives to Bharat Petroleum Corporation, up to 75 per cent of the capital expenditure over a period of 20 years from the commencement of project activities, for the ultra-mega project of more than Rs 96,000 crore under tailor-made incentives provisions. The BPCL is expected to invest Rs 4,843 crore during the current financial year and Rs 9,686 crore next year. It will be investing Rs 14,529 crore in 2027-28, Rs 29,059 crore in 2028-29 and Rs 38,745 crore in FY30, totalling Rs 96,862 crore investment
BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.
