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A Rupees 400 Crore Joint Venture to Boost the LPG Trade

With an investment of rupees 400 crore an Oman based gas company namely National Gas Company (NGC) is all set to partner with Petredec (headquartered at Singapore) to set up a corridor with an aim of boosting LPG import and its storage at Krishnapatnam port, Andhra Pradesh. A joint venture project, this would be crucial in fulfilling the ever growing LPG demand in the country. In this venture the NGC would have 60% stake while the petredec will hold a 40% stake.

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A Rupees 400 Crore Joint Venture to Boost the LPG Trade

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  1. A Rupees 400 Crore Joint Venture to Boost the LPG Trade

  2. With an investment of rupees 400 crore an Oman based gas company namely National Gas Company (NGC) is all set to partner with Petredec (headquartered at Singapore) to set up a corridor with an aim of boosting LPG import and its storage at Krishnapatnam port, Andhra Pradesh. A joint venture project, this would be crucial in fulfilling the ever growing LPG demand in the country. In this venture the NGC would have 60% stake while the petredec will hold a 40% stake. NGC Energy has planned for import and storage of propane and butane, the crucial component of LPG in the terminal the construction of which is supposed to commence soon. This project is supposed to be beneficial in a number of ways: Generation of jobs: The terminal is targeted to be completed in 18 months which would require a large number of manpower, both skilled and professionals. This would in turn generate jobs in massive numbers. Increase in storage capacity: The terminal would provide a large room for storage of crucial LPG components i.e. Propane, Butane and refrigerated materials. Boost in imports: Amid the ever increasing demand for LPG in industries and in households, this terminal would ease the import routes and boost the LPG industry.

  3. Beneficial for industries: Today a large number of industries depend directly and indirectly on LPG for their industrial and manufacturing needs such as Glass, Ceramics and etc. LPG for industries constitute a large part of LPG market. This terminal will be major boon to the industries. India being the second largest consumer and importer of LPG, the upcoming terminal at Krishnapatnam port will be major step in meeting the country’s LPG needs.

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