Andhra Pradesh plans to set up two special economic zones (SEZs) at Visakhapatnam and Kakinada. Oil and Natural Gas Corporation (ONGC) will be involved in the development of the SEZ at Kakinada. ONGC has already committed investment through Mangalore Refinery for the promotion of a 6 million ton refinery at Kakinada with a capital outlay of Rs.55 billion (US$1.24 billion).
7,000 acres had been acquired for the Visakhapatnam SEZ, of which 1,500 acres has been allocated to Hindustan Petrochemical Corporation Ltd (HPCL) for setting up a greenfield refinery and petrochemical project. The project is understood to have an investment outlay of Rs.80-160 billion for an export-oriented refinery of 10 million-tons capacity as well as petrochemical plant.
02-Sep-05 
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