Paradip Port Trust on 26 October 2013 inked an initial pact with public sector pipeline operator GAIL (India) for setting up a liquefied natural gas terminal at Paradip at a joint investment of 3108 crore rupees.
GAIL seeks to set up the project with a capacity of 4.8 million ton per annum in phase one by 2017 with a storage capacity of 170000 cubic meters. This will require a total investment of 3108 crore rupees out of which Paradip Port would invest 650 crore rupees in breakwater and dredging and the rest of 2458 crore rupees would be invested by GAIL.
The government aims to bring out Indian ports on par with the best international ports in terms of performance and capacity. Paradip Port is located in the coastal district of Jagatsinghpur in Odisha. It is about 100 km from state capital Bhubaneswar, is one of the major ports of India serving the eastern and central parts of the country.
Who: Paradip Port Trust
When: 26 October 2013