Business Daily from THE HINDU group of publications
Tuesday, Jul 28, 2009
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Business Daily from THE HINDU group of publications Tuesday, Jul 28, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Logistics
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Infrastructure Petronet to invest Rs 14,500 cr for projects in LNG terminal
1068 MW capacity power plant at an investment of Rs3,250 crore 30 per cent of capital from internal accruals and remaining by re-visiting the capital markets before 2011 
Mr P. Dasgupta Our Bureau
Kochi, July 27 Petronet LNG Ltd is expected to invest Rs 14,500 crore in various allied projects related to its proposed LNG terminal scheduled to be commissioned in Puthuvypeen near Kochi by 2011. Addressing a press conference, Mr P. Dasgupta, Managing Director, Petronet LNG, said that besides the terminal, the other projects included a 1,068-MW plant at an investment of Rs 3,250 crore, GAIL’s pipeline linking Bangalore and Mangalore via Coimbatore, Erode and Salem for city gas supply (Rs 5,000 crore) and for procuring LNG vessels (Rs 2,500crore). For setting up the integrated power plant, Mr Dasgupta said that some of the sections of the LNG unit, as envisaged under the original plan, would have to be relocated to the adjoining area to accommodate the power plant. There is a requirement of additional 40 hectares of land for which it had approached the Cochin Port Trust and State Government. KINFRA (Kerala Industrial Infrastructure Development Corporation) is holding 22.8 hectares in the area and the State Industry Minister has been requested to allot the land for the power project. “We have received in principle approval from the port and the Government for land transfer,” he said. Silicon Chips productionA plant for production of silicon wafers, a key component in the computer manufacturing industry, could also be started in the area. He said the project could act as a catalyst in attracting investments from various sectors, mainly Silica wafer plants. Kerala has all the vital resources to attract silica wafer plants and the company’s project will ensure uninterrupted power supply and provide distilled water for such plant. The plant will generate nearly three million litres of distilled water everyday, which is essential for the silica wafer plants. FundingAsked about the funding pattern for these projects, he said 30 per cent of the capital for the projects would be raised from internal accruals and the remaining would be raised by re-visiting the capital markets much before 2011. He said that company would enter into an LNG supply agreement with Australia based Exxon Mobil in August for supply of 1.5 million tonnes of LNG per annum for 20 years. The company had already placed orders for two LNG vessels with a capacity of 1 lakh tonnes each. More Stories on : Infrastructure | Petroleum | Shipping/Ports
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