PLL Board gives in principle clearance to increase capacity
The Petronet LNG Ltd board has given in principle clearance to increase capacity of the LNG Terminal at Kochi from 2.5 million tonnes to 5 million tonnes.business Updated: Nov 21, 2010 19:02 IST
The Petronet LNG Ltd (PLL) board has given in principle clearance to increase capacity of the LNG Terminal at Kochi from 2.5 million tonnes to 5 million tonnes.
The decision in this regard was taken at the PLL's board meeting on Sunday, Union Petroleum secretary, S Sundareshan, told reporters.
'The meeting decided to give in principle go ahead to increase the capacity of the Kochi LNG terminal', he said adding final approval will be given at the next board meeting.
Expanding capacity would entail an additional investment of about Rs 450 crore from the previous estimation of Rs 3700 crore.
The LNG Terminal, which is coming up at nearby Puthuvype, is scheduled to be completed by march 2012.
On the sourcing of LNG, he said PLL was in discussion with some suppliers. It has been decided to source about 1.5 million tonnes from Gorgon, an Australian company.
Oil companies will be investing over Rs 10,000 crore over the next few years in kerala, he said. Besides, the LNG project, GAIL would be investing about Rs 5000 crore in laying pipeline network from Kochi to Managlore, Kochi to Kayamkulam and Thiruvananthapuram. Besides, Kochi Refineries has already invested about Rs 1000 crore on modernisation.
For the Gail pipelines, Gail has already started all activities for starting work. Actual physical work will be started immediately and the first phase of the Kochi-Mangalore work is expected to be completd in 18 months time. There are also plans to have undersea pipelinea at NTPC Kayamkulam, he said.