The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that as per 13th Schedule of Andhra Pradesh Reorganisation Act, 2014, Indian Institute of Petroleum and Energy (IIPE) has been set up at Visakhapatnam. Government of Andhra Pradesh has made available an area measuring about 200 acres of land in Visakhapatnam District for the Institute. IIPE Society has been registered on 18.04.2016. Temporary campus of IIPE has been set up in premises provided by College of Engineering at Andhra University for starting the academic session 2016-17. 96 students have already joined in two undergraduate programmes, viz., Petroleum Engineering and Chemical Engineering. The meeting of Expenditure Finance Committee (EFC) held on 21.06.2016, inter-alia, recommended Rs.655.46 crore as capital expenditure and Rs.200 crore as endowment fund.
Hindustan Petroleum Corporation Limited (HPCL) along with Gas Authority of India Ltd. (GAIL) has carried out a prefeasibility cum configuration study for setting up a Petrochemical complex at Kakinada in Andhra Pradesh.