Petronet LNG Limited (PLL) and Gangavaram Port Limited
(GPL) today signed a firm and binding term sheet for
developing a land based Liquified Natural Gas (LNG) Terminal
at Gangavaram Port, Andhra Pradesh with a capacity of 5.0
Million Metric Tonnes Per Annum (MMTPA). Dr. A. K. Balyan, MD
& CEO, PLL and Mr. D. V. S. Raju, CMD, GPL signed the term
sheet in the presence of Shri Sutirtha Bhattacharya, IAS,
Principal Secretary, Infrastructure & Investment Department,
Government of Andhra Pradesh.
The LNG Terminal at Gangavaram Port will comprise of
facilities for receiving, storage and regasification of LNG
and will be developed with an approximate investment of Rs
4500 Crores. This will be the third LNG terminal of PLL, the
other two being - an operational 10.0 MMTPA terminal at
Dahej, Gujarat and 5.0 MMTPA terminal at Kochi, Kerela which
is likely to become operation in next six months. The
terminal at Gangavaram Port will have the provision for
further expansion like the flag-ship Dahej LNG Terminal of
PLL.
The Gangavaram LNG Terminal will help meet the growing energy
demand of the State of Andhra Pradesh and will also cater to
the increasing gas requirements of eastern and central part
of India. At its full operational capacity the terminal is
likely to contribute over Rs. 2,000 crores as Value Added Tax
("VAT") to the State Government of Andhra
Pradesh.
Speaking on the occasion,Dr. Balyan, MD & CEO,
PLLsaid, "The construction work on the
terminal is expected to start within a year and it shall be
ready to commence operations by the Year 2016. We are eager
to have our presence on the east coast and are exploring
various possible options to bring gas earlier than 2016 at
Gangavaram Port." Dr. Balyan further added that the
Project would contribute immensely to the economic
development of the region by providing additional and lower
cost alternate fuel to the refinery, power, fertilizer,
transport and other sectors, which in turn would result in
substantial downstream investments in these sectors.
Mr. D. V. S. Raju, CMD,
GPLexpressed happiness and said, "This will
be not only the first LNG Terminal to come up in the State of
Andhra Pradesh but also in the entire East Coast of India. We
are very glad to partner with PLL as they have substantial
proven expertise in the sector. Developing LNG Terminal at
the Port inches us closer to our vision to see Gangavaram
Port as truly modern, multi-purpose and environment friendly
port." Mr. Raju also said that natural gas is the
cleanest hydro-carbon fuel available and the proposed
terminal would promote the use of clean energy, thereby
contributing to the environment without compromising on
industrial & social development.
Mr. Sutirtha Bhattacharya,
IAS,appreciated PLL and GPL for coming together
for developing this LNG Terminal at Gangavaram Port and
expressed confidence that natural gas being one of the
primary fuel, it would be a catalyst for exponential growth
in the industrial development of the region. He particularly
welcomed the thought of bringing natural gas earlier than
2016 in Andhra Pradesh.
About Petronet LNG Limited (PLL)
Petronet LNG Limited is a Company promoted by BPCL, GAIL,
IOCL and ONGC and it owns and operates first LNG
Regasification Terminal in India with the capacity of 10
MMTPA at Dahej, in the State of Gujarat, and is also setting
up another Greenfield LNG Regasification Terminal with the
capacity of 5 MMTPA at Kochi, in the State of Kerala.
www.petronetlng.com
For more information please contact
Mr. A.K.Chopra
Vice President (HR&PR)
Tel: 011-23472520 (Direct)
Mobile: 91-9811139808
Email: akchopra@petronetlng.com
About Gangavaram Port Limited (GPL)
Gangavaram Port Limited is a Company promoted by Shri D. V.
S. Raju and has been awarded the concession by State
Government of Andhra Pradesh to develop and operate the
Gangavaram Port, located at Visakhapatnam on the East Coast
of India. The port has been developed as all weather,
deepest, most modern and fully mechanized port in India,
capable of handling Capesize vessels. With 21 m water depth,
it is the deepest port in India.
www.gangavaram.com
For more information please contact
Ms. Mukta Kumar
Director Communication
Konnections
Mobile: 9885907090
Tel : 040 65742740
Email: Mukta.kumar@konnections.co.in
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