Tamil Nadu Industrial Development Corporation (Tidco) and Gail (India) will form a joint venture to set up a power plant and pipeline infrastructure to carry LNG. The new company will make an investment to the tune of Rs 10,000 crore over the next five years.
Tamil Nadu Chief Minister J Jayalalithaa said that her government had signed an MoU with Indian Oil Corporation to set up LNG terminals in north Chennai with a capacity of 5 million tonne a year. The facility will distribute 18 million cu m of LNG every day for power generation, industries, vehicles and households, throÂugh the pipeline, which will be set up by Gail.
BC Tripathi, Chairman and Managing Director, Gail, and N Sundaradevan, Chairman and Managing Director, Tidco, signed the MoU in the presence of Jayalaithaa in Chennai.
The Chief Minister added that Gail was setting an LNG terminal in Kochi and was plaÂnning to create pipeline infrastructure between Kochi and Bangalore via Tamil Nadu.
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