HPCL, GAIL sign pact with AP for Rs 40K crore petrochem project
Hindustan Petroleum Corp Ltd(HPCL) and GAIL India Ltd signed a pact with Andhra Pradesh for setting up a Rs 40,000 crore petrochemical plant in the state. The 50:50 joint venture will set up a 1.5 million tons Ethylene Derivatives plant. The plant will produce a wide range of petrochemical raw
materials for the manufacture of detergents, paints and coatings, cosmetics, textiles and adhesives.
It will be set up at the Petroleum, Chemical and Petrochemicals Investment Region (PCPIR) sites identified by the state government at Kakinada.
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