Bhubaneswar, Sept 22: A MoU was signed on Wednesday between State owned refiner Indian Oil Corporation (IOC), GAIL India Limited and the Adani Group for set up of Rs 5,000 crore Liquefied Natural Gas (LNG) Terminal at Dhamra and in the presence Dharmendra Pradhan Union Petroleum Minister, a formal announcement of the MoU was made.
As per sources, the work to set up the LNG terminal at Dharma has already begun and is expected to be completed by 2018-19.
While 38% of profit in investment would be taken up by IOC, 11% would be taken up by GAIL and rest 51% will be taken by the Adani Group.
Notably, for setting up of the LNG import terminal, GAIL had signed an MoU with the Paradip Port Trust in October 2013.
