BPCL greenfield project in Nellore nears deadline

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All eyes are on Bharat Petroleum Corporation Limited’s (BPCL) proposed greenfield refinery and petrochemical complex near Ramayapatnam port in SPSR Nellore district, as the July deadline approaches.

The national project estimated to cost ₹1 lakh crore is meant to process 9 – 12 million metric tonnes of petrochemical products per annum.

The land acquisition is nearing completion, as 4,500 acres of the required 6,000 acres have already been acquired, and the balance will be mobilised in a month’s time. Additionally, 3,000 more acres will need to be acquired in the vicinity for developing ancillary units.

“The State has agreed to cover 75% of the capital expenditure over an operational period of 20 years. This includes a 43.5% direct capital subsidy distributed over 15 installments, apart from full GST refund,” said MP Vemireddy Prabhakar Reddy, who played a crucial role in bringing the project to Nellore district.

“The project will bring in 3,400 jobs during its peak stage, besides 3,750 direct jobs once the project goes on stream,” said District Collector Himanshu Shukla.

Apart from huge employment generation potential, the project is also set to fetch a lot to the State’s coffers. The facility is expected to generate around ₹87,558 crore in the first fifteen years after the commercial operations begin.

It may be recalled here that BPCL had already signed a Memorandum of Understanding (MoU) with Oil India Limited (OIL) to work in tandem at this proposed Ramayapatnam site.

The State government hopes that Prime Minister Narendra Modi will lay the foundation stone for this prestigious project.