Bharat Petroleum Corporation Ltd (BPCL) has picked Andhra Pradesh for setting up a new oil refinery-cum-petrochemical complex, which may be the last greenfield project in India which has detailed a very ambitious energy transition plan to net zero emissions.

In a stock exchange filing, BPCL said its board at a meeting "accorded its approval to commence pre project activities for setting up of a greenfield refinery cum petrochemical complex in east coast at Andhra Pradesh at an estimated cost of Rs 6,100 crore".

The pre-project activities include initial studies, land identification, and acquisition, preparation of detailed feasibility report, environment impact assessment, basic design engineering package, and front-end engineering design, it said.

While the firm did not reveal the capacity or the timelines for completing the project, the refinery could be at least 9 million tonnes (180,000 barrels per day) capacity.

BPCL is India's third largest oil refiner behind state-owned Indian Oil Corporation (IOC) and Reliance Industries Ltd. It currently owns refineries at Mumbai (12 million tonnes a year capacity), Kochi in Kerala (15.5 million tonnes) and Bina in Madhya Pradesh (7.8 million tonnes). 

It had lost a fourth oil refinery to Oil India Ltd in the aborted privatisation plan.