GUNTUR: Stating that the country is moving towards clean energy based economy, Prime Minister Narendra Modi has said that Centre has initiated several measures for providing energy security of the nation. Prime Minister Narendra Modi dedicated three prestigious including Strategic Petroleum Reserve (SPR) in Visakhapatnam to the nation here on Sunday.

Addressing the public meeting, PM briefly explained about the significance of the projects he launched. He said that the new projects worth Rs.9000 crore would be a boon to the state’s growth and economy. He said that the projects would also help local youth in getting the jobs.

He said that The petroleum projects were very crucial in ensuring the energy security of the country. He said that SPR of Visakhapatnam would help the country in managing its fuels during the emergencies. He said that they have targeted to reduce the imports by 10 per cent by 2020 and such storage facilities were vital in realizing the dreams.

HIGHLIGHTS

*The 1.33 MMT Visakhapatnam SPR facility of Indian Strategic Petroleum Reserve Limited (ISPRL)

*It costs around Rs. 1125 crore.

*The facility has the largest underground storage compartment in the country.

*PM also laid a 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 the security of the petroleum products for AP.

*Giving a major push to the gas-based economy, PM dedicated ONGC’s S1 Vasishta development project located in the Krishna-Godavari (KG) Offshore Basin in the state to the nation.

*The cost of the project is about Rs.5,700 crore. This project will contribute to reducing oil imports by 10% by 2020.

