KAKINADA: A Liquefied Natural Gas (LNG) Import Terminal with an investment of Rs 9,000 crore will come up in Kakinada. Norway-based Crown LNG has come forward to set up the terminal.
Crown LNG CEO Swapan Kataria and Indian Gas Exchange MD Rajesh Kumar signed an MoU for setting up of the terminal, in the presence of Kakinada MP Tangella Uday Srinivas in New Delhi.
Speaking on the occasion, the MP said Prime Minister Narendra Modi has laid special emphasis on energy sector as part of Viksit Bharat 2047. The TDP-led NDA government in the State has also given priority to the energy sector as part of its Swarna Andhra Vision 2047. It has formulated the new energy policy with an aim to attract huge investments. As a result, several companies have evinced interest to set up energy plants in AP with huge investments. BPCL Refinery, Reliance Biogas and Tata Energy plants are coming up in the State, he explained.
The terminal to be set up by Crown LNG on Kakinada coast will produce 7.2 million metric tonnes of gas per year, thereby providing large scale employment to the local youth. Many ancillary industries will come up in Kakinada with the setting up of the terminal. The new terminal is likely to start production by 2028, the MP added.