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 partner.
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.