IOC-Petronas to invest Rs 400cr for LPG terminal

Indian Oil-Petronas, the joint venture company floated by Indian Oil Corporation (IOC) and Petronas, will invest about Rs 400 crore to build an LPG import terminal at Ennore in Tamil Nadu.

The JV company will build a 6,00,000 tonne a year LPG import terminal at Ennore, IOC sources said.

They added that construction work will begin early next year, and the terminal will be commissioned in the first-half of 2009.