The much-awaited LNG terminal at Ennore, the first on the East Coast of India, is finally set to kick off by the end of this year. Indian Oil Corporation´s CMD B Ashok has said that construction of the Rs 5,150 crore terminal will begin within the end of this year.
´We have received the board approval for the terminal and acquired all other approvals for the project. A project management consultant has also been appointed. Construction will begin by the end of December,´ he said. The terminal, with a capacity of 5 million tonnes, is likely to be ready by 2017.With IOC holding 45 per cent stake in the project and the Tamil Nadu Industrial Development Corporation 5 per cent, the remaining stake will be funded by investors.
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