AP approves port project worth $ 2-bn

    Andhra Pradesh Port Project
    In an attempt to speed up the mega port project in the state, the state government in Andhra Pradesh has given in-principle approval to Krishnapatnam Port Company Limited (KPCL) to set up a floating storage and regasification terminal (FSRT) on build, operate, share and transfer (BOST) basis entailing an investment worth $ 2 billion.

    The FSRT will be set up by Malaysian firms including IHSB (Isomeric Holdings Sdn Bhd) and LEPL Ventures Private Limited consortium as they proposed to undertake regasification terminal in Krishnapatnam port through a private funded initiative mechanism to ensure adequate supply of gas to the power and the industrial sectors in the state, said official sources, explaining that the project will be ready in about 18 months. The consortium will have to come out with a feasibility report, a detailed project report and environmental impact assessment of the project. The development comes close on the heels of Kakinada port receiving the green signal from the Union ministry of environment, forests and climate change for development of the floating storage regasification unit based LNG terminal, they added.
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