Andhra Pradesh Boosts BPCL's Greenfield Refinery Project with Duties Exemption

The Andhra Pradesh government has waived stamp duty and registration fees exceeding Rs 20 crore to aid Bharat Petroleum Corporation Ltd (BPCL) in setting up a greenfield refinery and petrochemical complex near Ramayapatnam Port in Nellore district.

This exemption relates specifically to the transfer of over 600 acres of land within Chevuru village, facilitating BPCL's ambitious project. Originally issued over a year ago, Andhra Pradesh committed to providing financial incentives covering 75% of capital expenditure for this undertaking.

The state's economic strategy under Industrial Development Policy 4.0 includes such incentives to foster large-scale investments, anticipating nearly Rs 97,000 crore in injection for the refinery, alongside substantial employment generation and economic growth.