GSPL plans to acquire 25% stake in the 20-MMTPA LNG project at Mundra in Gujarat which was earlier offered to Essar, IOC and HPCL.
Currently, GSPC holds 51% stake in the project while Adani holds 25%. The project is being implemented by GSPC LNG- a SPV floated for LNG business which aims to set up a LNG terminal with an initial capacity of 6.5 MMTPA that will be increased to 7.5 MMTPA after re-gasification in the first phase. The first phase is likely to be commissioned in 2012
Rs 3500cr will be invested in the first phase which includes setting up of two tanks with capacity of 160k each and a jetty. About one-third of the investment will be contributed by the promoters while the rest would be raised through financial institutions.
The net capacity of the project to be completed in about 3 phases will be about 20 MMTPA. The overall investment size is being estimated at Rs 8000cr
Last year, the project was relocated within Mundra Port and SEZ area.
Tractebel Engineering has been appointed as the technical advisor to the project. Tractebel has expertise ranging from gas collection to LNG installations and gas pipelines, up to city gate and distribution networks, including underground storage.
The Mundra terminal will be the State’s third LNG terminal.
Other LNG terminals in Gujarat
| Project | Companies involved | Location | Capacity (in mmtpa) | Investment (in Rs cr) |
| Hazira LNG Terminal | Shell - Total JV | Hazira, Surat | 5 | 3000 |
| Petronet LNG | Petronet | Dahej, Gujarat | 5 | - |
Petronet is also in the process of building another terminal at Kochi, Kerala with a capacity of 2.5 MMTPA.
As part of its strategy to enter into the LNG trading business, GSPC has imported LNG cargo in the past.
Last year In September, the state PSU imported cargo fro Qatargas on a spot basis, making it the first Indian non-terminal owner to have independently purchased such cargoes. Gas from the cargo was received at Petronet LNG’s R-LNG receiving & re-gassification terminal at Dahej.
GSPC plans to come up with an IPO in the range of $1-1.5bn before the end of this year.
Source : Business Standard
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32625
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24534
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 28/01/10 |
Mundra LNG- GSPL |
M&A |
Gujarat State Petronet Limited |
- |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 02/05/12 |
Private Equity |
Looking For |
Husk Power Systems Private Limited |
- |
Announced |
| 28/03/12 |
M&A |
STEAG GmBH |
Hinduja National Power Corp. Limited |
- |
Announced |
| 22/03/12 |
M&A |
Korea Electric PowerCorp |
Pioneer Gas Power Limited |
98.37 |
Announced |
| 24/02/12 |
M&A |
Tecpro Systems Limited |
Eversun Energy Private Limited |
- |
Completed |
Company |
| Name | Promoters | Office | Competitor | Website |
| Gujarat State Petronet Limited |
Gujarat State Petroleum Corporation Limited |
GSPC Bhavan, Behind
Udyog Bhavan
Sector -11,
Gandhinagar - 382 011.
Gujarat, India |
GAIL India Limited
Reliance Natural Resources Limited |
www.gujpetronet.com |
