Major oil public sector units are planning to invest over Rs 1.43 lakh crore in Andhra Pradesh in coming years which would create jobs for thousands of people in the state, according to Oil Minister Dharmendra Pradhan. He said that the investment will start from 2017-18 and all the investments would be completed by 2021-22.
Andhra Pradesh has immense hydrocarbon potential and is going to become a major petroleum and petrochemical hub in the coming years, Pradhan said at the CII Partnership Summit. The minister also said about $20 billion is being invested in the KG basin by both public and private sector companies.
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