Mumbai: The Petronet LNG Limited (PLL) and the Cochin Port Trust are set to sign the construction agreement for the Rs.5,000-crore port and re-gasification facility for liquefied natural gas (LNG) on Puthuvype Island this week.
Port Trust Chairman N. Ramachandran said that the Cabinet Committee on Economic Affairs had approved the setting up of the facilities on Monday. The approval has been pending for a while. The clearing of the LNG terminal project has come as a great relief as it was feared that if the approval did not come during the term of the present government, the LNG project might get delayed further.
The Puthuvype facility will initially handle 2.5 million metric tonnes of LNG annually. The handling capacity can be augmented up to five million tonnes.
The facilities to be built will include unloading arms, two storage tanks (work on which is progressing) and a vaporisation system.
Petronet is still looking where best to source the LNG from. [25/02/09]
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