Dubai-based energy trading company Anvi Global is all set to invest about ₹5,000 crore towards a new LPG import and storage terminal for the Mormugao Port in Goa.
The project, which will be the first dedicated LPG facility of its kind in Goa, will involve the development of an LPG berth, storage facilities, and a pipeline connecting it to the Mormugao Port.
The first phase will provide a storage capacity of around 65,000 metric tonnes (MT), equivalent to 8-9 months of Goa's current consumption, an ANI report said. This will include an emergency reserve of at least 7,500 MT, covering 30 days of demand, which can be released only on the state government's instructions.
At full capacity, the terminal is expected to handle around 3 million tonnes per annum (MTPA) of the cooking gas, supplying not just Goa, but also parts of Karnataka and Maharashtra.
Anvi Global is now seeking land allocation and statutory approvals for the ₹5,000 crore project.
This marks a major push for not only the maritime sector, but also for India's energy security, at a time when impacted energy flows due to the West Asia crisis pushed up oil prices to a six-month high on October 30.
A non-binding Memorandum of Understanding (MoU) for the LPG terminal project was signed on October 30 at the Vibrant Goa Global Business Summit, in the presence of CM Pramod Sawant.
The company also plans to develop a supply corridor between the US Gulf Coast and India, aimed at providing a potential 10-15 per cent landed-cost advantage, while also helping New Delhi reduce its dependence on LPG shipments sourced from the embattled West Asia, ANVI Global founder Ashutosh Verma told BusinessLine.
"In March, Goa learned what fifteen days of stock means when the ships (stopped) coming. This terminal makes sure that never happens again," he added in the ANI report.
The maritime sector also came up in a session on the second day of the summit on Saturday, titled 'Maritime Horizons: Shipping, Ports & Dredging', which focused on long-term dredging requirements, strengthening the shipbuilding supply chain, expanding cargo handling on the state's inland waterways, the proposed Goa Water Metro and the development of an integrated logistics network connecting the Mormugao Port, Mopa Airport, waterways and rail infrastructure.
"Goa's port, rivers and shipyard are growing faster than most in India. What investors now need is depth planned over years, a supplier base around the shipyard, and projects prepared well enough for lenders to finance," SARC Global Founder and Chairman Sunil Kumar Gupta said at the event, as per the ANI report.
