Governor E. S. L. Narasimhan, Union Minister of Commerce & Industry and Civil Aviation Suresh Prabhu were also present on the occasion.
In a boost to energy security of the country, the Prime Minister dedicated to the nation, 1.33 MMT Visakhapatnam Strategic Petroleum Reserve (SPR) facility of Indian Strategic Petroleum Reserve Limited (ISPRL).
The cost of the Project is Rs. 1125 crore. The Facility has the largest underground storage compartment in the country.
He laid the foundation stone for setting up Bharat Petroleum Corp. Ltd (BPCL) Coastal Installation Project at Krishnapatnam. The estimated cost of the project, spread over 100 acres is Rs. 580 crore. 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 S1 Vasishta development project located in the Krishna-Godavari (KG) Offshore Basin in Andhra Pradesh. The cost of the Project is about Rs.5,700 crore.
This project will contribute significantly in realising PM’s vision of reducing oil imports by 10% by 2020. (INN)