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Union Minister Dharmendra Pradhan Meets Jaganmohan Reddy, Assures Investment of Rs 2 Lakh Crore in Andhra Pradesh

Pradhan also directed the ONGC to clear the compensation of Rs 81 crore for 16,554 fishermen of Bhairavapalem village in East Godavari district who were affected by the off-shore drilling by the ONGC Limited.

Syed Ahmed | News18

Updated:November 8, 2019, 8:40 PM IST
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Union Minister Dharmendra Pradhan Meets Jaganmohan Reddy, Assures Investment of Rs 2 Lakh Crore in Andhra Pradesh
Union petroluem minister Dharmendra Pradhan with ANdhra chief minister Jaganmohan Reddy.

Amaravati: In a big boost for Andhra Pradesh, union petroleum minister Dharmednra Pradhan has given nod to chief minister Jaganmohan Reddy’s request for the supply of iron ore from NMDC to the proposed steel plant at YSR Kadapa district.

Additionally, Andhra Pradesh will also get Rs 2 lakh crore investments in the next five years while world leaders in petroleum sector were willing to invest in the East Coast, Pradhan said.

Pradhan said the Centre is ready to supply iron ore to the proposed steel plant. The state government and the National Mineral Development Corporation (NMDC) would sign an agreement in this regard very soon, he said during a meeting at the Secretariat here on Friday. The meeting was attended by several state and central government officials.

“Many big players in the petroleum sector are showing interest in investing in Andhra Pradesh and in the next five years there will be Rs 2 lakh crore investments coming into the state in petrol, natural gas and steel sectors,” the union minister said.

The quantum of investments would increase through setting up of Kadapa Steel Plant, expansion projects in Visakhapatnam and by setting up of petro complex at Kakinada.

Pradhan also directed the ONGC to clear the compensation of Rs 81 crore for 16,554 fishermen of Bhairavapalem village in East Godavari district who were affected by the off-shore drilling by the ONGC Limited.

The Chief Minister also sought an equal share of the royalty collected by the union government from oil and gas companies as the establishments pose various environmental risks and also cause depletion of the fish population. CM Reddy requested the union minister to set up a Green Field Crude oil refinery and petrochemical complex in Kakinada and also asked for setting up of a Petroleum University in Kakinada as skilled manpower is required for the upcoming major project of the ONGC.

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