Andhra Pradesh Secures Major Investment Promises from BPCL and VinFast

In a pivotal meeting, Andhra Pradesh Chief Minister N Chandrababu Naidu engaged with representatives from Bharat Petroleum Corporation Ltd (BPCL) and the Vietnamese electric vehicle company VinFast to discuss significant investment opportunities in the state.

Naidu urged BPCL to invest Rs 60,000 crore to establish an oil refinery and petrochemical complex. He highlighted his recent discussions in New Delhi with central leaders regarding these potential investments. BPCL representatives indicated that they require 4,000 to 5,000 acres of land for the complex. Naidu assured them that the land would be allocated within 90 days, and BPCL plans to return by October with a feasibility report.

Andhra Pradesh Industries Minister T.G. Bharat announced on Wednesday that BPCL is ready to invest Rs 1 lakh crore in the state, with an initial investment of Rs 50,000 crore to Rs 75,000 crore, which may include the establishment of an oil refinery.

In addition to BPCL, Naidu invited VinFast representatives to set up their electric vehicle and battery manufacturing units in Andhra Pradesh, assuring them that the state government is prepared to provide the necessary land and facilities for these projects.