Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Abdullah Suleiman Hamed Al Harthy (right), Chairman, NGC Energy and Nalin Kumar Chandna, CEO, at a press conference in Chennai - Bijoy Ghosh
Oman-based National Gas Company (NGC) will partner with Singapore-headquartered Petredec to set up an LPG import and storage terminal at Krishnapatnam Port at an investment of ₹400 crore.
The project will be set up under a JV company in India, NGC Energy India Pvt Ltd, in which NGC will have 60 per cent stake, and Petredec, an LPG trader, will hold the remaining 40 per cent.
The plan to set up an LPG terminal project comes on the heels of a growing demand for LPG in the country as also the favourable demand outlook over 10-15 years.
The company broke ground for the proposed facility on Thursday and construction work is expected to commence soon. The foundation stone was laid by NGC Energy chairman Abdulla Suleiman Hameed Al Harthy. The LPG terminal project is expected to generate over 400 jobs, directly and indirectly.
“The project is expected to take 15-18 months for completion after securing all approvals. We expect to complete the facility during the first half of 2021,” Nalin Kumar Chandna, Chief Executive Officer, NGC, said here.
He said the company hoped to secure all clearances latest by next month.
The officials said Krishnapatnam Port provided several advantages to establish the project. These include the capability to receive large carriers and the logistics to reach the hinterland.
The refrigerated LPG import and storage terminal will have a storage capacity of 30,000 tonnes and a throughput capacity of 1.4 million tonnes per annum for servicing PSUs and private sector companies in the hinterland.
The company expects its LPG terminal to help bridge the demand/supply gap in India as it aims to reach about eight million households in the hinterland. The terminal will also have a re-export facility to serve other markets.
India is the second-largest consumer and importer of LPG in the world. The LPG demand in India has been growing at seven per cent annually.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
High valuation and stiff competition from larger players are a dampener
Investors with a short-term perspective can buy The New India Assurance Company (NIACL) stock at current ...
₹1490 • HDFC Bank S1S2R1R2COMMENT 1475146015051520 Fresh short positions are recommended with a stiff ...
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
‘You ready to go to work?’ Joe Biden had asked Kamala Harris before naming her as his running mate. ‘Oh my ...
Writer Narendra’s latest book, rich with vignettes from Bastar and his native village in Uttar Pradesh, ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor