NGC Energy India Pvt Ltd – a joint venture between Oman-based National Gas Company and Singapore-headquartered Petredec – would jointly set up a liquified petroleum gas import and storage terminal at Krishnapatnam Port at an investment of Rs 400 crore.
NGC Energy would produce propane, butane at the refrigerated terminal which would have a storage capacity of 30,000 tonne and a throughput capacity of 1.4 million tonne per annum, company officials said here. The foundation stone for the project was laid by NGC Energy chairman Abdulla Suleiman Hameed Al Harthy recently.
“The joint venture structure is 60 and 40 per cent (with Petredec). Total investments will be Rs 400 crore. We will be commencing construction very soon,” NGC Energy India director Nalin Kumar Chandna said. Read More
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