Home$1.6bn LNG-power complex contract

$1.6bn LNG-power complex contract

$1.6bn LNG-power complex contract

The Indian state of Tamil Nadu has selected an international consortium to build an integrated LNG terminal and power project at a new port planned for Ennore, near Madras. The Dakshin Bharat Energy Consortium will construct the 2.5m t/y gas terminal and 1886 MW power plant under a contract worth Rs63bn ($1.6bn).

Partners in the Dakshin Bharat Energy Consortium are Siemens Power Ventures, Unocal Bharat, CMS Energy Corp., Grasim Industries and Woodside Petroleum. The group fought off pre-qualified bids from other consortia led by Enron, Petronas and Shell Gas to win the contract.

The power project will provide a source of secure long-term power to fuel rapid industrial growth in the region. Financial closure is expected to be complete by the end of 2000, with construction scheduled to begin in April 2001. Operation will begin in mid-2003.

The complex will form part of a large port development at Ennore, the second phase of which is awaiting approval. The LNG terminal will include reception, regasification and storage facilities.

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