Chennai

NGC Energy, a JV between National Gas Company and Oman and Petredec India Pte. Ltd, Singapore, recently announced of developing of the LPG import and storage terminal at Krishnapatnam Port with an investment of Rs 400 crore. The Foundation Stone was laid by Abdulla Suleiman Hamed Al Harthy, Chairman, NGC Energy.

The refrigerated LPG import and storage terminal has a storage capacity of 30000 tonne and a throughput capacity of 1.4 million tonne per annum for servicing the PSUs and private sector companies in the hinterland.

“This is a very proud moment for us. The new refrigerated LPG import and storage terminal will help bridge the demand/supply gap with an aim to reach approximately eight million households in the hinterland. The project is also expected to generate around 400 plus direct and indirect employment thus benefiting the region. We sincerely thank all the Government officials in Andhra Pradesh and Krishnapatnam Port officials for their support to successfully begin development of this terminal,” said Abdulla Suleiman Hamed Al Harthy.

NGC Energy India was established in the year 2018, heralding entry of National Gas of Oman’s entry into India to set up a greenfield LPG import terminal. In September, this year, National Gas Company signed a definitive agreement with global petrochemical, gasoline and shipping giant Petredec to transfer 40 per cent shares of NGC Energy making it a joint venture company.