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- The motive behind setting up IIPE in Andhra Pradesh is to offer high-quality education and conduct advanced research in various aspects relating to hydrocarbons.
- The estimated budget for setting up IIPE in Andhra Pradesh is Rs. 650 crore.
Recently, a Bill was introduced in Lok Sabha for setting up Indian Institute of Petroleum & Energy (IIPE) in Visakhapatnam (Andhra Pradesh) . which was passed on August 4, 2017. The motive behind setting up IIPE in Andhra Pradesh is to offer high-quality education and conduct advanced research in various aspects relating to hydrocarbons. The estimated budget for setting up IIPE in Andhra Pradesh is Rs. 650 crore. The centre promised to establish IIPE in Andhra Pradesh as a part of the special package offered to the state after the separation of Telangana.
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Minister of State for Petroleum and Natural Gas, Mr. Dharmendra Pradhan indicated that IIPE Andhra Pradesh would benefit the students of all parts of the country. It will lay more emphasis on both conventional and non-conventional forms of energy. He further pointed that the scope of research in the field is immense as countries including Japan, United States (US) and China are already working on it.
Mr. Dharmendra Prasad also pointed that Andhra Pradesh has the Krishna-Godavari basin that holds the capacity of meeting India's demand with regard to natural gas and petroleum resources for the next 100 years. IIPE Andhra Pradesh will further create numerous employment opportunities for locals as it requires a lot more than just teaching staff.
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IIPE Andhra Pradesh will also conduct quality research and pave way for development in various fields including Liquefied Natural Gas (LPG), Bio Fuels and Renewables.
Currently, IIPE Andhra Pradesh has been functioning from a temporary campus located in Andhra University.
