Petronet to set up gas terminal, signs deal with Cochin Port TrustMarch 12th, 2009 - 8:55 pm ICT by IANS
Kochi, March 12 (IANS) The Cochin Port Trust (CPT) Thursday signed a concessions agreement with Petronet LNG Ltd for setting up a liquefied natural gas (LNG) terminal and a re-gasification plant within a special economic zone promoted by the port here.
The project, to be set up at Puthuvypeen Island near hear at an investment of Rs.40-billion (Rs.4,000-crore), would be commissioned in 2012.
The agreement was signed between CPT chairman N. Ramachandran and Petronet LNG director (finance and commercial) A. Sengupta, a CPT statement said.
The port has granted 33.4 hectares at Puthuvypeen to Petronet on lease for 30 years for the project.
The CPT said all pre-project activities have been completed. These include on-shore and off-shore surveys, preparation of detailed feasibility report and basic engineering package, mathematical and physical modelling studies, terrestrial and marine environment impact assessment studies.
The project is expected to be a big boost to Kerala’s economy as the state-based companies like Fertilisers and Chemicals Travancore Ltd (FACT) and Kayamkulam Thermal Power Plant of NTPC Ltd will benefit from the high availability of LNG.
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Tags: basic engineering, cochin port trust, cpt, crore, director finance, environment impact assessment, feasibility report, fertilisers, gas lng, impact assessment studies, kochi, liquefied natural gas, marine environment, ntpc ltd, petronet lng ltd, ramachandran, rs 40, special economic zone, thermal power plant, travancore