Paradip Port Trust & GAIL sign MoU to set up Rs 3,108 crore project
Paradip Port’s LNG terminal moved a step closer this week after the port entered into a memorandum of understanding (MoU) with India’s largest gas supplier GAIL (India) Ltd to commence the Rs 3,108 crore project.
The terminal, complete with floating storage and regasification facilities, will start operating with an initial capacity of four million tonne per annum (mtpa), rising to a maximum 4.8 mtpa, and a storage capacity of 170,000 cubic metres, according to the Business Standard. The first phase is expected to be completed by 2017.
The second phase will add a further four mtpa to capacity, peaking at 4.8 mpta, to increase the terminal’s overall capacity to between eight and ten mtpa.
Paradip Port Trust (PPT) and GAIL will invest Rs 650 crore and Rs 2,458 crore respectively to help realise the project.
In a statement, the PPT said that the new terminal will position both Paradip and the state of Odisha on the global LNG map.
Sanjib Datta, executive director (business development) at GAIL (India) Ltd, who signed the MoU with PPT chairman Sudhansu Sekhara Mishra, said that the re-gasification unit will have a “dedicated LNG jetty” and that natural gas “will be transported through GAIL’s Jagdishpur-Haldia and Surat-Paradip pipelines”.