Petronet LNG to set up plant in Pipavav, Gujarat
1-Jan-1970

Petronet LNG is learnt to have begun talks with the Gujarat Government owned Gujarat State Petroleum Corporation or GSPC to set up an LNG terminal at Pipavav in Gujarat, reports CNBC-TV18.

Sources say that the company has held initial rounds of talks. GSPC has been planning to set up a 2.5 million tonnes a year LNG terminal in Gujarat, and had zeroed in on Pipavav as one of the destinations.

Industry experts say both GSPC and Petronet LNG will benefit if Petronet agrees to join this Rs 1500 crore venture.

But when contacted, GSPC denied any such move, and Petronet LNG did not comment.

If the deal goes through, the Pipavav Terminal could be Petronet LNG's second terminal in Gujarat. Yesterday, the stock closed up almost a percent at Rs 49.05.


Source: Moneycontrol.com, New Delhi, September 14, 2006
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