ONGC apprises Vice President of its investments
in Andhra Pradesh
Thesynergyonline Corporate Bureau
NEW DELHI, FEBRUARY 11 :
Interacting with Vice President Mr M Venkaiah Naidu in Chairman's Chamber in Rajya Sabha on February 11, 2020, senior ONGC Officials along with CMD Mr Shashi Shanker, apprised the Vice-President of ONGC`s offshore and onshore projects in Krishna Godavari Basin and Rajamundry. An estimated investment of Rs 68,000 crore in offshore projects and Rs 10,000 crore in onshore projects has been lined up by the ONGC in Andhra Pradesh.
At the meeting, Mr Naidu asked the Union Minister for Petroleum & Natural Gas and Steel Mr Dharmendra Pradhan to expedite all petroleum projects at various stages of implementation in Andhra Pradesh. The Union Minister assured the Vice President that all necessary steps will be taken to fast-track all the projects in the state.
Mr Naidu sought the status of setting up of the greenfield petrochemical complex at Kakinada, with an investment of around Rs 32,000 crore for producing 1.7mmtpa of petrochemical products. The project is being undertaken by Hindustan Petroleum Corporation Limited (HPCL) and GAIL India , with the support of the Andhra Pradesh Government.
The Minster and accompanying officials from GAIL informed the Vice President that the Center is keen on implementing this Petro Chemicals project as early as possible and is awaiting the state Government's response on the specific financial modalities for funding the project, as it is being executed jointly in partnership with the state government.
Mr Naidu also asked the status of the Visakh Refinery Modernization Project (VRMP) being implemented by Hindustan Petroleum Corporation Limited (HPCL) at its Visakhapatnam Refinery, with a capital outlay of about Rs 26,264 crores.
Mr Dharmendra Pradhan informed the Vice President that the Project implementation is in full swing. He emphasized that more than 13,000 people are working round the clock at the site and the project will be completed ahead of its schedule.
While apprising the Vice President of the progress of various projects, the Minister informed that City Gas Distribution (CGD) network is being implemented in various districts of Andhra Pradesh. This will help facilitate access to PNG and CNG for household, transport and industrial segments.
The Petroleum Minister informed the Vice President that Central Government and private sector is making huge investments in the Hydro-carbon sector on east coast in Andhra Pradesh and Kakinada would soon emerge as a Hydrocarbon hub in the country.
The Union Minister assured the Vice President that all necessary steps would be taken to fast-track all projects in Andhra Pradesh.