Published on February 19, 2018
The proposed petrochemical complex at Kakinada in Andhra Pradesh, a joint project of GAIL and HPCL, seems to have hit a roadblock with the Centre asking the state government to pay Rs 5,000 crore upfront in the form of viability gap funding (VGF).
With certain legal technicalities between state government and central government the project seems be under uncertain. The proposed complex, with a cracker unit, was supposed to produce ethylene and its derivatives. The state government has submitted its part of request and is now waiting for central government to respond on the situation.
