Andhra Pradesh Chief Minister N Chandrababu Naidu on 10 July, 2024 met Bharat Petroleum Corporation (BPCL) officials to explore the possibility of setting up an oil refinery and petrochemical complex in the state, which could attract investments worth Rs 70,000 crore.

He directed officials to prepare a detailed feasibility report in 90 days, while highlighting that the state is strategically located on the east coast of the country with significant petrochemical potential. Up to 5,000 acres of land is required for a project, and the state government has assured to facilitate the process.

BPCL is a Maharatna public sector undertaking, engaged in oil refining and fuel retailing businesses, among others.

Similarly, the CM also met the chief executive of VinFast, Pham Sanh Chau, for a discussion, and further directed the Industries department to facilitate the company's team's visit to suitable land parcels, to move towards a successful collaboration with the Vietnamese company.