Hindustan Petroleum Corporation Limited has been allotted 1500 acres of land by The Andhra Pradesh Industrial Infrastructure Corporation to set up a mega petrochemical complex in the Special Economic Zone (SEZ) developed at Achutapuram. This allotment is part of the 3,500 acres of land sought by HPCL. Total project cost is estimated at Rs. 22,000 crores, out of which Rs. 10,000 crores will be invested in the first phase. The complex will become part of the petroleum hub proposed in the district.
A plan is underway to develop the petrochemical complex and nearby areas as Petroleum, Chemical and Petrochemical Investment Region (PCPIR).