Indian Oil Corporation’s chairman B. Ashok revealed that work on the Ennore LNG terminal has started.
Initial works like clearing the land at the site of the Rs 5,150 crore project have begun, Press Trust of India reports.
He added that two out of three major contracts for the project have been signed.
Mitsubishi Heavy Industries has been contracted by the IOC to build two liquefied natural gas storage tanks with the capacity of 180,000 cbm each. According to an earlier statement by MHI, the construction of the tanks was planned to begin in July this year and the completion is expected in the spring of 2018.
Indian Oil also signed a contract with Black & Veatch for the regasification facilities. Black & Veatch will lead the engineering, procurement, construction and commissioning work on a turnkey basis, and the plant is scheduled to be completed by 2018.
IOC is yet to sign a contract for the accompanying marine facilities.
The company has also signed a memorandum of understanding with the Tamil Nadu government, according to which IOC will hold a 45% stake while the government will have a 5% stake in the project.
1 Indian rupee = 0.015565 U.S. dollars
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LNG World News Staff; Image: Ennore Port