Chandrababu Seeks Investment in Petrochemical Hub at Davos Meeting with Lakshmi Mittal

Davos, Switzerland – Andhra Pradesh Chief Minister Chandrababu Naidu has made a strong pitch for investment in a petrochemical hub at Bhavanapadu during his meeting with Lakshmi Mittal, Executive Chairman of ArcelorMittal, at the World Economic Forum in Davos.

Naidu emphasized the strategic significance of Bhavanapadu for petrochemical exploration, highlighting its potential as a prime location for industrial development. He invited Mittal to consider the establishment of a solar cell manufacturing plant in the state, reiterating the government’s commitment to facilitate such initiatives.

The Chief Minister outlined key advantages for investors, including the planned 83.3 million tonnes per annum (MTPA) capacity port and the presence of the Indian Institute of Petroleum and Energy in Visakhapatnam. He assured that the state provides stable infrastructure and strong governmental support, making it an attractive destination for investments in the petrochemical sector.

“Bhavanapadu-Mulapet has unparalleled opportunities for innovative advancements in petrochemicals and green energy, enabling the establishment of manufacturing, research and development, and logistics facilities,” Naidu stated.

In addition to petrochemicals, Naidu urged for the setup of a 2 gigawatt (GW) solar cell manufacturing plant, aligned with the plans of the HPCL-Mittal joint venture Green Energy Limited. This ambitious project, estimated to cost Rs 3,500 crore, is expected to generate approximately 2,000 employment opportunities.

The Chief Minister reiterated that the Andhra Pradesh government is poised to provide all necessary support and cooperation for these initiatives, seeking to bolster the state’s industrial landscape and promote sustainable energy solutions.