The proposed Rs 4,320-crore LNG terminal to be set up by Indian Oil Corporation (IOC) at Ennore Port in collaboration with Tamil Nadu Industrial Development Corporation (Tidco) may be completed by March 2016.
The LNG import terminal will have storage and regasification facilities of 5 million metric tonne per annum capacity. IOC has entered into a memorandum of understanding and subsequently a heads of agreement (HoA) with Tidco for partnering the project.
In addition, Indian Oil Petronas, a joint venture between IOC and Petronas Malaysia, is setting up an LPG import-export terminal at Ennore Port and that the construction was in progress.
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