NGC Energy India Private Ltd. is setting up a liquified petroleum gas (LPG) import and storage terminal at Krishnapatnam Port in Andhra Pradesh, about 180 kms from Chennai.
Abdulla Suleiman Hamed Al Harthy, chairman, NGC Energy, laid the foundation stone for the ₹400-crore project on Thursday. The civil works would commence by the year end and the project would be completed during the first half of 2020-21.
NGC Energy is a 60:40 joint venture between the Oman-based National Gas Company (NGC) and the Singapore-based Petredec India Pte Ltd.
The refrigerated LPG import and storage terminal would have a storage capacity of 30,000 tonnes and a throughput capacity of 1.4 million tonnes per annum for servicing public and private sector companies in the hinterland, said Nalin Chandna, CEO, National Gas Co.
Asked on their choice of Krishnapatam Port, he said it had deep draft and short turnaround time.
