New Delhi, May 10 (ANI): The Union Cabinet has given its approval for leasing of land of Ennore Port Ltd for a Rs 4,320-cr liquid gas (LNG) import terminal being built by state-owned Indian Oil Corp (IOC).
IOC plans to build a five million tonne a year liquefied natural gas (LNG) import facility at Katupalli (Ennore) by 2016.
Ennore Port is located near the North Chennai Industrial Hub which houses industrial units, such as Madras Fertilizers Limited (MFL) and Chennai Petroleum Corporation Limited (CPCL) who would also be the users of LNG.
The project will help EPL to utilize gainfully the land and waterfront available with them. Further, it will attract major petroleum and other companies to contribute towards the development of the region. It will lead to the socio-economic development of the backward areas in and around Ennore Port.
LNG is an environment friendly clean fuel and its use as a substitute for other petroleum products will bring down the pollution levels. It is also cost effective and availability of LNG in the area will lead to sustainable industrial development. (ANI)
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