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AP hopes of petro complex dashed
Andhra Pradesh government\'s hopes of securing an integrated refinery-cum-petrochemical complex for the new state were dashed with the Centre declaring that the feasibility studies did not advise the same.
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Three sites -- Machilipatnam, Nakkapalli cluster near Visakhapatnam and within Kakinada SEZ in East Godavari district -- have been studied and a decision will be taken based on the Detailed Feasibility Report and cost of land – Union Minister Dharmendra Pradhan
New Delhi: Andhra Pradesh government's hopes of securing an integrated refinery-cum-petrochemical complex for the new state were dashed with the Centre declaring that the feasibility studies did not advise the same.
Replying to a question of Vijayawada MP Kesineni Srinivas, Union Petroleum Minister Dharmendra Pradahn said in the Lok Sabha here on Monday that though the Centre had conducted the feasibility studies for 15 MMTPA refinery-cum-Petrochemical Complex and also for a stand-alone petrochemical complex,
the results were discouraging. In both the cases, the internal rate of return (IRR) was very low which required a very large viability gap funding by the AP government.
He also added that on the request of the AP government, the Centre had asked to consider feasibility study of the stand-alone complex and the HPCL and GAIL would do so. However, the detailed feasibility report was expected only by June, 2016.
