By Zee Media Bureau,Zee News

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The Andhra Pradesh government has approved the allocation of 6,000 acres of land near Ramayyapatnam Port in Nellore district to Bharat Petroleum Corporation Limited (BPCL) for the establishment of a Greenfield Refinery and Petrochemical Complex with a capacity of 9 to 12 MMTPA. The project, estimated at around ₹1 lakh crore, has been classified as an ultra-mega investment.As part of its push to attract large-scale industrial projects, the state has also granted in-principle approval for financial incentives covering up to 75% of BPCL’s capital expenditure. These incentives will be extended over a span of 20 years from the start of the project, under a tailor-made policy designed specifically for investments exceeding ₹96,000 crore.Under the incentive package, BPCL will receive a capital subsidy of 43.5%, which will be released over 15 instalments, as per ET. The company will also get a full GST refund during the operational phase. In addition, the state has agreed to refund SGST — including amounts that are normally not eligible along with its share of IGST and CGST during the construction period. The project will also be exempt from paying stamp duty and registration charges in full.BPCL shall be requested to complete all phases of the project and start the commercial operations of this project by January 2029…Being an ultra-mega investment, the project shall be monitored through a High Level Committee consisting of all the stakeholder departments, on a regular basis, the GO issued on October 7 said.While seeking clearance to draft the Terms of Reference from the Ministry of Environment, Forest and Climate Change, BPCL stated that the 9 MMTPA project is estimated to cost ₹1.03 lakh crore and is targeted for completion within 42 months.According to the company, the project is expected to create around 3,400 jobs during the construction phase including 400 permanent and 3,000 temporary positions. Once operational, it is projected to generate another 3,750 jobs, with 1,250 permanent roles and 2,500 on a temporary basis.The Expert Appraisal Committee (EAC) under the ministry has instructed BPCL to hold a public hearing and submit a detailed report. This report must include the signed proceedings, attendance records, an action plan addressing concerns raised during the hearing, and a clear budget and timeline for implementing those measures.The proposed refinery and petrochemical complex will require a total of 600 MW of power. Of this, 100 MW will be generated through BPCL’s own captive power plant, while the remaining 500 MW will be supplied through the state power grid.