Oman-based National Gas JV to build ₹400-crore LPG terminal
Oman-based National Gas Company (NGC) will partner with Singapore-headquartered Petredec to set up an LPG import and storage terminal at Krishnapatnam Port at an investment of ₹400 crore.
The project will be set up under a JV company in India, NGC Energy India Pvt Ltd, in which NGC will have 60 per cent stake, and Petredec, an LPG trader, will hold the remaining 40 per cent.
The plan to set up an LPG terminal project comes on the heels of a growing demand for LPG in the country as also the favourable demand outlook over 10-15 years.
