The Lok Sabha on Friday passed a Bill providing for the establishment of the Indian Institute of Petroleum and Energy (IIPE) in Andhra Pradesh.
To be located at Visakhapatnam, the institute will cost the Centre Rs 650 crore. It is part of a package promised by the Centre to Andhra after the creation of the separate state of Telangana. The state government has provided 200 acres for the project. Mentored by IIT Kharagpur, IIPE will offer high-quality education and advanced research on conventional hydrocarbons, biofuels and renewables. It will have the status of an institute of national importance.
Minister of State for Petroleum and Natural Gas Dharmendra Pradhan, while piloting the The Indian Institute of Petroleum and Energy Bill, 2017, for consideration and passage, said the IIPE “will have a futuristic impact… Youth will be benefited”. He told the members that India along with China, Japan and the US was doing research on gas hydrates. For this, the KG basin may meet India’s demand for 100 years.
Adhir Ranjan Chowdhury of the Congress made a reference to The Indian Express story “Refinery project: Navaratna EIL under probe for contract to Dubai company” and posed questions to Pradhan: have 18 crore people been denied subsidy despite crude oil prices falling dramatically; has the CVC asked for papers for an inquiry into the Rs 6.2-crore contract.