Indian Oil Petronas, a JV between IOC and Petronas Malaysia, is setting up an LPG (liquefied petroleum gas) import-export terminal at the Ennore Port in Tamil Nadu.
The new facility will have a tankage capacity of 30,600 tonne. The project cost is estimated at Rs 497.83 crore. The LPG terminal is expected to be commissioned by August 2012, subject to clearances from the Coastal Regulatory Zone and the MoEF.
Meanwhile, IOC proposes to set up an LNG (liquefied natural gas) import terminal at Ennore Port with storage and regasification facilities of five million tpa capacity at an estimated cost of Rs 4,320 crore. IOC has signed an MoU and subsequently an HoA (heads of agreement) with the Tamil Nadu Industrial Development Corporation for partnering the project. The LNG terminal is expected to be completed by March 2016.