Petronet LNG to soon finalise investment in power sector
September 8th, 2011 - 11:39 pm ICT by IANSKolkata, Sep 8 (IANS) Petronet LNG Ltd, one of the leading companies in India’s LNG sector, is expecting to finalise investment in the country’s power sector in the next two to three months in a joint venture with Gujarat State Petronet Ltd, a top company official said Thursday.
“The company is waiting for a power purchase agreement (PPA) in place for at least one-third of the proposed capacity before the board goes ahead with the project,” Petronet MD and CEO A.K. Balyan told reporters on the sidelines of a FICCI programme here.
Stating that the company wanted that the 1,200-MW power project to be completed in phases, he said it was in favour of setting up three units of 370 MW each.
“The unit cost would be around Rs.4.5 per unit,” he said.
Balyan said LNG Petronet will finalise the site for the third LNG terminal at the east coast of the country by the end of the calender year.
“The terminal will have a capacity of five million tonnes per annum. The capacity can be increased in future,” he added.
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