Oil PSUs Ask Andhra Govt For Funds To Set Up Kakinada Project


Oil PSUs Ask Andhra Govt For Funds To Set Up Kakinada Project

Oil PSUs want Andhra Pradesh government to provide viability gap funding for them to set up a Rs 32,901-crore petrochemical complex in the state, Oil Minister Dharmendra Pradhan said on Monday.

Hindustan Petroleum Corp Ltd (HPCL) and gas utility GAIL India had in January last year signed an MoU with Andhra Pradesh for setting up a petrochemical complex at Kakinada, he said in a written reply in Lok Sabha.

“Feasibility study has been carried out for the petrochemical complex. Oil PSUs have indicated to the Government of Andhra Pradesh that viability gap funding is necessary to make the project viable,” he said.

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