Bhadrak News

Gas Authority of India Limited (Gail) and Indian Oil Corporation (IOC) signed a memorandum of understanding (MoU) to join Adani Group promoted Rs 5,000-crore ($805 mln)  Dhamra LNG Port (DPCL) project on the Odisha coast. The MoU comes within weeks of GAIL dropping plans to set up a floating LNG import terminal at Paradip. IOC too had in 2012 signed a MoU with Dhamra LNG Port Corp Ltd (DPCL) to develop a liquefied natural gas (LNG) terminal at the port. According to a Gail statement, the two public sector Maharatna companies have signed the MoU with Dhamra LNG Terminal Private Limited for setting up 5 million tonnes-ayear LNG import terminal.

Orissa, which plans to set up at least a dozen of ports along its 450 km long coastline, has received a proposal for shipbuilding and repair yards. Sources said Bharati Shipyard Ltd. and Apeejay Surendra Group, had jointly proposed to develop a state-of-the-art shipbuilding and ship repair yards at Dhamara in Bhadrak district. Official sources said the government was serious about the proposal because this could result in as many as 41,000 new jobs. [Source: The Economic Times]