Public sector Indian Oil Corporation (IOC) is scouting for a third partner for the proposed LNG terminal at nearby Ennore with a project cost of Rs 4,320 crore, a top official said here today.
IOC and Chennai Petroleum Corporation (CPCL) is setting up the 5 million tonne per annum capacity terminal for supply of regassified natural gas. CPCL and IOC have signed an agreement for supply of LNG.
"For this project we are definitely looking for a partner. Right now we are talking to many companies who can become our partner," IOCL Chairman RS Butola told reporters after announcing group company CPCL's results.
Stating that the project was "well on course", he said they have not taken any decision on identifying the partner. "We have not taken any decision on it. But the project is currently on hand," he said.
For the project, CPCL is gearing itself to receive natural gas for its heaters and boilers and also for its power plant and hydrogen generation units.
Butola also clarified they are looking for a partner who has experience in setting up an LNG plant.