Indian Oil Corporation (IOC) has reportedly received its board’s approval for Rs 5,150-crore Ennore-LNG Terminal project, to be set up jointly with Tamil Nadu Government. The work on the 5-million-tonne Liquefied Natural Gas terminal, the first such infrastructure on the east coast, will start in a couple of months. In this regard, the company has appointed Foster Wheeler of Spain as the project management consultant.
The project is expected to be completed by 2018. Moreover, the company is participating in the bids called by the Petroleum and Natural Gas Regulatory Board for laying pipeline for the project linking the terminal to Tiruchi, Nagapattinam and Madurai in South Tamil Nadu apart from lines to Chittoor and Bangalore.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
