There is a possibility of Reliance Industries (RIL) coming together with GAIL India and Hindustan Petroleum Corporation (HPCL) to set up a mega 1 mln tpa petrochemical complex in Vishakhapatnam, Andhra Pradesh. HPCL has a 7.5 mtpa refinery in the area, which is expanded to 15 mtpa. The petrochemical plant will be located in the proposed Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in Vishakhapatnam. The Andhra Pradesh government has already applied for setting up a PCPIR in the Vishakhapatnam-Kakinada zone.
The investment outlay for the plant, with an estimated capacity of plant is estimated to 1 mln tons, is pegged at over Rs 6,000 crore. The capacity of the plant would equal the polymer manufacturing capacity of RIL and Indian Petrochemicals Corporation (IPCL) put together.