Friday, July 19, 2024

AP best place to invest, CM tells VinFast, BPCL

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Chief Minister Chandrababu Naidu, on Wednesday, told the industrialists that Andhra Pradesh is the best choice for investments. Representatives of BPCL and VinFast had a meeting with the Chief Minister at the State Secretariat here and held a detailed discussion on the investments in the State. If the proposals discussed at the meeting materialise, the State will get investments to the tune of Rs 60,000 crore from BPCL on oil refinery and petrochemical complex.
The Chief Minister, during his recent visit to New Delhi, had a discussion with the Central leaders on the investments by BPCL in the State, and Wednesday’s meeting with the BPCL representatives is in continuation of this. The company representatives brought to the notice of the Chief Minister that at least 4,000 to 5,000 acres of land is needed for setting up the petrochemical complex.
Responding to this immediately, Chandrababu said that the necessary land will be allotted to the company within 90 days and asked the company representatives to come with the detailed and necessary proposals for establishing the project.
The representatives informed Chandrababu that they will be back latest by October with the feasibility report.
The CM also explained in detail to the Chief Executive Officer (CEO) of VinFast, Pham Nhat Vuong, and other company representatives on the available resources in the State to launch the electric vehicles. Chandrababu asked the Vietnam-based company representatives to set up their electric vehicle and battery manufacturing units in the State and that the State government is ready to provide the necessary land and other basic facilities for them.
Earlier, the Chief Minister had lunch with the CEO and other representatives of VinFast, the Chairman and Managing Director of BPCL Krishna Kumar, and other representatives of the company.

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