E. S. L. Narasimhan, Governor of Andhra Pradesh and Telangana, and Suresh Prabhu, Union Minister of Commerce & Industry and Civil Aviation were also present on the occasion.
Calling it a boost to the Nations energy security , PM dedicated to the nation, Rs 1125 crore 1.33 MMT Visakhapatnam Strategic Petroleum Reserve (SPR) facility of Indian Strategic Petroleum Reserve Limited (ISPRL). The Facility has the largest underground storage compartment in the country.
The PM also laid the foundation stone for setting up the Rs 580 crore Bharat Petroleum Corp. Ltd (BPCL) Coastal Installation Project at Krishnapatnam. Spread over 100 acres, the project will be commissioned by November 2020. Fully automated and State of the art Coastal Installation Project will ensure security of the petroleum products for Andhra Pradesh.
Giving major push to the Gas Based Economy, PM also dedicated to the nation, ONGC’s near Rs 6,000 crore S1 Vasishta development project located in the Krishna-Godavari (KG) Offshore Basin in Andhra Pradesh. This project will contribute significantly in realising PM’s vision of reducing oil imports by 10% by 2020.
