Gangavaram Port Limited, special purpose vehicle formed by D.V.S. Raju-led consortium to build the private port, has already signed an agreement with Petronet LNT Limited for setting up of an LNG terminal. Ministry of Environment and Forests has already accorded clearance to the project.
Under the agreement, a land-based Liquefied Natural Gas (LNG) terminal will be developed in the port with a capacity of five million tonnes per annum in the first phase.
The LNG terminal will comprise facilities for receiving, storage and re-gasification of LNG. It involves an investment of Rs. 4,500 crore. The project will help meet the growing energy demand of the State and cater to the increasing gas requirement of eastern and central part of India.
