A petrochemical complex is coming up in Andhra Pradesh and it will be undertaken by HPCL and the GAIL, according to Union Fertiliser, Chemical and Petrochemical Minister Anant Kumar.
He was speaking at the valedictory session of the 3-day Partnership Summit of the CII which concluded here on Tuesday. The minister said in-principle approval had been given by the Centre. He had discussed the issue with the Union Petroleum Minister, Dharmesh Pradhan, but the details would have to be worked out. There would be a meeting next month in New Delhi along with AP Chief Minister N. Chandrababu Naidu to work out the details.
He said the HPCL refinery capacity here would be expanded and the scale of investment in the petro-chemical complex could be in the region of Rs 40,000-50,000 crore.
He said he was also following up with the Pharmaceutical Ministry for setting up the National Institute of Pharmaceutical Research (NIPER).
The institute would be set up in Visakhapatnam at an investment of Rs 600 crore and the State Government would have to provide 600 acres. Further, he said, a medical devices park would be set up in the State with an investment potential of Rs 20,000 crore.
ESSEL and Zee group MoUs : Subhash Chandra, Chairman of Zee group and ESSEL group, said his group had signed two important MoUs with the AP Government on Tuesday. He said his group had signed a MoU for manufacturing solar panels from silica at an investment of Rs 13,000 crore, giving employment to 15,000 persons, and the project would require 2,000 acres.
The second MoU was for setting up a smart industrial township in Andhra Pradesh, on 10,000 acres, housing 200 industries including some of the ESSEL group, and the investment potential would be Rs 73,000 crore.
Chief Minister Chandrababu Naidu announced that 328 MoUs had been signed during the three days by the State Government with an estimated investment potential of Rs 4,78,000 crore and his Government would make all efforts to get the projects grounded.
State Governor ESL Narasimhan expressed the confidence that Andhra Pradesh would march ahead and become a major industrial State in the country.