IOC has entered into an agreement with Tamil Nadu Industrial Development Corporation (TIDCO) for joining the project at the twelth major port of India.
The import terminal for liquefied natural gas will have storage and regasification facilities of 5 million metric tone per annum capacity.
Meanwhile, Indian Oil Petronas, a joint venture company of Indian Oil Corporation and Petronas Malayasia is currently building an LPG Import/Export terminal at Ennore Port.
Built at a cost of about INR49.783bn ($91.6m), the project will have a tankage capacity of 30,600 metric ton.
The LNG terminal is expected to be in-service by March 2016 while the LPG terminal is expected to be commissioned by August 2012, after necessary approvals.
