A petroleum hub is soon to come up in Visakhapatnam region. HPCL has already launched work on expanding Visakh Refinery capacity from 8.33 million tonnes to 15 million tonnes with an investment of Rs.18,412 crore. HPCL is in talks with GAIL and others for setting up of a petrochemical complex between Visakhapatnam and Kakinada. Petronet LNG Limited has a plan to develop a 10 million tonne LNG terminal at Gangavaram Port for which it signed MoU a few years ago.
As per indications, this will be repackaged now to allay apprehensions among locals. “Maybe this will be smaller version of PCPIR,” an official said. The Centre is also expected to give $215 million as part of special package promised for Andhra Pradesh for creating the required infrastructure. “Whether it is PCPIR or petroleum hub, what we need is robust infrastructure and pro-active policies to create conducive business environment,” said CII-AP Chairman G.S. Shiv Kumar.
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan during his recent visit to Nellore had declared that massive investments would be made in petroleum sector in AP. Site for a petroleum university has already been allotted at Sabbavaram.
Looking forward to seeing amazing changes in Visakhapatnam in the petroleum sector too. Wishing Visakhapatnam to be smart, smarter and smartest city in all sectors.