Three major projects unveiled in Andhra, to boost oil production
New Delhi: In the run-up to the 2019 Lok Sabha elections, Prime Minister Narendra Modi on Sunday unveiled three major projects in Andhra Pradesh — a 1.33 MMT Visakhapatnam Strategic Petroleum Reserve facility in Visakhapatnam, a coastal installation project at Krishnapatnam, and a S1 Vashishta development project located in the Krishnagodavari
The projects will give a major push to the gas-based industrial units in Andhra Pradesh and neighbouring states as well as giving a boost to the energy security of the country.
The PM unveiled ONGC’S S1 Vashishta development project which, experts say, will contribute significantly in realising PM Modi’s vision of reducing oil imports by 10 per cent by 2020.
The PM said, “The Central government is building oil reserves in different places in the country so that the country does not face scarcity of fuel in difficult situations.”