Swan Energy to Invest $845 mln for FSRU Terminal
Swan Energy Limited will invest around Rs. 5,600 crore ($845 mln) towards setting up of Jafrabad LNG Port project in Gujarat with one jetty-moored Floating, Storage and Regasification Unit (FSRU). The joint venture project by Swan Energy Limited (SEL) and its Belgium partner Exmar Marine N.V. will be the country's first jetty-moored FSRU. Swan Energy holds 51 per cent stake in the JV company, Swan LNG Pvt Ltd, while Exmar Marine and Gujarat-government's Gujarat State Petroleum Corporation (GSPC) hold 38 per cent and 11 per cent respectively. To be commissioned in January 2019, the Jafrabad LNG Port will see a 5 MTPA receiving terminal…
Asia's Largest Shipbreaking Yard Opposes State Plan
The Japan-backed ambitious $22-million plan of the Gujarat government to upgrade the Alang Ship Recycling Yard, which is the largest in Asia, has run into rough weather with recyclers finding the project environmentally and financially non-viablle, reports 'The Indian Express'. Alang Ship Recyclers Association has made it clear to the Gujarat Maritime Board that they are not in a position to go for the project that involves construction of a dry dock, improvement of existing plots and creating other facilities.
Tatas to Look at Shipbuilding
The Tata group is looking at the possibility of entering the shipbuilding business even as India looks to boost its shipbuilding capabilities to meet growing global demand for cargo carrying ships. The Tata group has shown interest in building a shipyard near Shivrajpur in Gujarat after the state government invited expressions of interest from private firms, according to a senior Gujarat government official. The group, which makes everything from salt to cars, is conducting a feasibility study on the project, said people familiar with the matter who did not wish to be identified. Tata Steel Ltd makes steel, a key input for constructing ships.
Gujarat Finalizing Ambitious Shipbuilding Policy
Gujarat, India’s top maritime state by cargo handled at state-owned ports, is finalizing a shipbuilding policy that has set an ambitious target to grab more than half of the country’s shipbuilding market by 2020, an official at the western state’s maritime regulator said. The state will be the first in the country to have a separate policy on shipbuilding. A draft policy prepared by the government seeks to extend tax holidays to shipbuilding projects for five years. Such projects will also be entitled to the same fiscal and duty benefits as those granted to so-called special economic zone (SEZ) projects of the Union government, said G.R. Jadega, technical adviser to the Gujarat Maritime Board.
