Essar may pick up stake in GSPC terminal
PM News Bureau
Essar Group is likely to pick up 25 per cent stake in Gujarat
State Petroleum Corporation's proposed liquefied natural gas import and
regasification terminal at Mundra in Gujarat. GSPC, which will hold 50 per cent
in the project, will have Adani Group with 25 per cent stake as minority
The 7.5-million tpa terminal is expected to commission by 2012, and will be the
second in Gujarat after Petronet LNG's 5-million tpa facility at Dahej. The
Mundra terminal will come up near Mundra port and SEZ being developed by the
Adani Group. GSPC has already sought clearance from the ministry of environment
and forests for the project.
GSPL will transport regasified LNG using its 2,000-plus km gas pipeline network
in the state. The gas supplies will also help secure feedstock for various power
projects being taken up by GSPC group companies like Gujarat State Energy
Generation and GSPC Pipavav Power Company.
[May 26-June 1, 2008]