HPCL & GAIL Inks MoU for ` 40,000 Crores Petrochemicals Complex in Andhra Pradesh
Andhra Pradesh, India: Hindustan Petroleum Corporation Ltd (HPCL), Gail India Limited and Government of Andhra Pradesh have announced that it has signed a memorandum of understanding for setting up a Greenfield, standalone petrochemical complex in Andhra Pradesh. The proposed complex, which will come in 2000 acres of GMR’s Kakinada SEZ, is expected to comprise investment of 40,000 crores.

Kakinada is often referred to as the ‘Houston of India' owing to the presence of hydrocarbon reserves and the oil & gas infrastructure. Conceding the advantage of Kakinada SEZ, which is the largest industrial area with port connectivity in this region, Indian Oil & Gas PSU majors will cooperatively build the new 1.5-million tonnes ethylene derivatives plant. The plant will produce an extensive range of petrochemical raw materials, which are used in the production of plastics, detergents, paints & coatings, cosmetics, textiles, adhesives, etc.