IOC scouting for 3rd partner for proposed LNG terminal
Public sector Indian Oil Corporation is scouting for a third partner for the proposed LNG terminal at nearby Ennore with a project cost of Rs 4,320 crore, a top official said.
Public sector Indian Oil Corporation is scouting for a third partner for the proposed LNG terminal at nearby Ennore with a project cost of Rs 4,320 crore, a top official said.
Indian Oil and Chennai Petroleum Corporation is setting up the 5 million tonnes per annum (MMTPA) capacity terminal for supply of regassified natural gas. CPCL and IOC have signed an agreement for supply of LNG."For this project we are definitely looking for a partner. Right now we are talking to many companies who can become our partner", IOCL Chairman R S Butola told reporters after announcing group company Chennai Petroleuem Corporation Ltd's results.Stating that the project was "well on course", he said they have not taken any decision on identifying the partner."We have not taken any decision on it. But the project is currently on hand," he said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
