Gas Authority of India Limited (GAIL) signs memorandum of understanding (MoU) with Paradip Port for setting up LNG terminal. S. S. Mishra, Chairman, PPT, and Sanjib Datta, Executive Director, GAIL(I) Ltd, signed the MoU in the presence of Union Shipping Minister G. K. Vasan, Shipping Secretary Dr Viswapati Trivedi and the chairmen of several major ports, among others.
Union Shipping minister GK Vasan said the LNG terminal at Paradip would put Odisha in the world LNG map, besides ushering in a new era in economic development for the state.
GAIL proposes to set up the first phase facility with a capacity of four million tonnes per annum (4.8 mmtpa in a peak condition) and a storage capacity of 170,000 cubic metres, to be doubled in the second phase. The first phase work will entail an investment of Rs 3,108 crore.
PPT will spend Rs 650 crore towards construction of a breakwater and dredging required for the project and GAIL the balance Rs 2,458 crore. Barring unforeseen developments, the project should be ready in four years by 2017
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