ONGC lines up ₹78,000-crore investment in Andhra Pradesh
Oil and Natural Gas Corporation (ONGC) has lined up an estimated investment of ₹78,000 crore in Andhra Pradesh. This includes ₹68,000 crore for offshore projects and ₹10,000 crore in Onshore projects.
This information was shared by top ONGC officials during a meeting with Vice-President of India, M Venkaiah Naidu about the company’s projects in Krishna Godavari Basin and Rajamundry.
Naidu was also informed about setting up of the Greenfield Petrochemical Complex at Kakinada, with an investment of around ₹32,000 crore for producing 1.7 million tonnes per annum of petrochemical products. The project is being undertaken by Hindustan Petroleum Corporation Ltd and GAIL (India) Ltd, with the support of the Andhra Pradesh government, a company statement said.
