Gujarat State Petronet Corporation (GSPC) and Adani Enterprises (AEL) are jointly setting up a liquefied natural gas (LNG) terminal at Mundra in Gujarat’s Kutch district.
The joint venture is in the process of roping in a strategic investor for 25 per cent stake in the project. It is learnt that eight firms, including India Gas Solutions, the joint venture (JV) of Reliance Industries and BP, have filed an Expression of Interest (EoI) for the project.
Other investors who showed interest in buying the stake include Oil and Natural Gas Corporation, GAIL India, Petronet-LNG, Indian Oil Corporation, Torrent Energy, Japan's Mitsui & Co and Toyota Tsusho Corporation.
In all, eight players have given EOIs for this purpose. Adani Enterprises wants to rope in a strategic investor who can bring in terminal handling experience and avenues to sourcing of gas. Mundra LNG terminal will be the third one in Gujarat after Dahej and Hazira.
The state has LNG terminals at Hazira and Dahej, with a total capacity of 13 million tonne (mn t) annually. GSPC formed GSPC LNG, a special purpose vehicle, in 2007 to set up the LNG terminal with AEL.