World Bank to Lend ₹15,000 Crore for Amaravati's Development, Bharat Petroleum Plans ₹85,000 Crore Refinery in Andhra Pradesh

Andhra Pradesh Chief Minister N. Chandrababu Naidu announced that the World Bank has approved a ₹15,000 crore loan for the construction of the state's new capital, Amaravati. Naidu, addressing the media on Tuesday, said that the work on Amaravati's first phase would begin in December, with efforts focused on completing the project within a set timeframe.

In addition to Amaravati's development, Naidu expressed gratitude towards Prime Minister Narendra Modi for the Centre's financial support. He shared that the Central government has agreed to release ₹12,500 crore for the ongoing construction of the Polavaram irrigation project, a significant infrastructure initiative for the state.

Naidu also revealed that Bharat Petroleum Corporation Ltd (BPCL) plans to invest ₹85,000 crore in a refinery in Andhra Pradesh. The company is currently conducting feasibility studies to finalize the location.

Discussing the state's future vision, Naidu informed the Prime Minister about the "Swarna Andhra Pradesh 2047" vision document. The plan aims to transform Andhra into a USD 2.5 trillion economy with a per capita income of USD 40,000 by 2047.

Naidu highlighted several other major developments, including the construction of the new Visakhapatnam International Airport at Bhogapuram, expected to be operational by December next year. He added that GMR Group, the airport's developer, has been asked to establish a Civil Aviation University nearby.

Regarding the state's current challenges, Naidu blamed the previous YSR Congress government for financial mismanagement. He alleged that they failed to utilize centrally sponsored schemes and diverted funds, leading to halted financial support from the Union government.

On resolving regional disputes, Naidu said Andhra Pradesh and Telangana are actively discussing pending issues. He also noted that the Centre is considering various strategies to ensure the survival of the Visakhapatnam Steel Plant.

Finally, Naidu shared that he requested the Centre to support key infrastructure projects, including a Greenfield Expressway between Vijayawada and Hyderabad and a 185 km-long Outer Ring Road in Amaravati.

The Chief Minister remains in the national capital, having met with Prime Minister Modi and key ministers, including Nitin Gadkari and Hardeep Singh Puri.