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New Delhi, Sept 1

Petronet LNG Ltd (PLL) on Friday signed a joint venture agreement with the Adani Group for setting up a solid cargo port at the Dahej SEZ.

The joint venture has already been incorporated as Adani Petronet (Dahej) Pvt Ltd, in which the initial equity ratio would be 50:50.

The two phases of the project are likely to cost around Rs 1,150 crore, with debt-equity ratio of 70:30.

The project is likely to be completed within 36 months, Petronet LNG said in a statement.

The solid cargo port would have the facilities to import and export coal, steel, and fertilisers.

The first phase would include one berth; the second phase would see two additional berths and full mechanisation of the port.

Land for the project has already have identified in Dahej SEZ next to PLL's LNG terminal.

(This article was published in the Business Line print edition dated September 2, 2006)
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