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 granted 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. Approximate cost of the project is around Rs. 4,500 crore.
Extracted from The Hindu, May 25,’15