IOC to go ahead with Ennore LNG plant

Indian Oil Corporation (IOC) on Wednesday said it would go ahead with its Rs 4,320-crore liquefied natural gas (LNG) plant at Ennore, near Chennai.Speaking to reporters after addressing Chennai Petroleum Corporation (an IOC subsidiary) shareholders in Chennai, IOC Chairman R S Butola said, "We are going ahead with the project, irrespective of whether we select our partner now or later. Some bids will be out and we will appoint the contractors for the tanks and the jetty."The company is setting up a five-million-tonne-a-year LNG terminal at Katupalli in Ennore. The project would involve an investment of Rs 4,320 crore.