The Union Cabinet has given its approval for leasing of land measuring 520,000 sq. mtr. of Ennore Port Limited (EPL) to the Joint Venture led by Indian Oil Corporation Limited (IOCL) for 30 years for setting up of LNG storage and re-gasification terminal project of 5 MMTPA capacity at Ennore Port.
Ennore Port is located near the North Chennai Industrial Hub which houses industrial units, such as Madras Fertilizers Limited (MFL) and Chennai Petroleum Corporation Limited (CPCL) who would also be the users of LNG.
The project will help EPL to utilize gainfully the land and waterfront available with them.
Further, it will attract major petroleum and other companies to contribute towards the development of the region. It will lead to the socio-economic development of the backward areas in and around Ennore Port.
[mappress] LNG World News Staff, May 10, 2013; Image: Ennore Port