News Brief | February 2017
Tata firm to invest in Rs.5,900 crore floating LNG project
In the first investment decision since N Chandrasekaran named as the Tata Group chief, Tata Realty and Infrastructure Ltd is taking 10 per cent stake in a Rs.5,900-crore floating LNG import terminal being set up by Nikhil Merchant-led Swan Energy in Gujarat. This will be the first investment by Tata Group in gas business. Ahead of the move, the authorised share capital of Swan LNG Pvt Ltd ´has been increased from Rs.5 lakh to Rs.2,000 crore,´ Swan Energy said in a separate filing. At par value, Tata investment will cost Rs.200 crore.