PM Narendra Modi to lay foundation for CNG terminal
RAJKOT: Prime Minister Narendra Modi will lay the foundation stone for the world’s first CNG terminal at Bhavnagar on September 29. The Foresight Group signed a Memorandum of Understanding (MoU) with the Gujarat Maritime Board (GMB) for the development of the CNG terminal during the Vibrant Gujarat Global Business Summit in 2019.
The state government stated that construction of the port is expected to commence in mid-2023 and the port will be operational by 2026. According to the Bhavnagar district administration, the Foresight group-led consortium had submitted a project proposal in December 2019 to GMB to develop the CNG terminal and other terminals at the north side of Bhavnagar Port. GMB issued a Letter of Intent (LOI) in September 2020 in the name of Bhavnagar Port Infrastructure Private Limited (BPIPL), a special purpose vehicle (SPV) formed by the consortium.
The brownfield port will be developed at the cost of Rs 4,024 crore and will house the world’s first CNG terminal. “In addition to the CNG terminal, the port will also cater to the future needs and demands of Bhavnagar district for upcoming projects such as vehicle scrapping, container manufacturing, other mega projects, and Dholera Special Investment Region in particular,” a state government release stated.
The port will also have a container terminal, multi-purpose terminal, and liquid terminal with direct door-step connectivity to the existing roadway and railway network connecting to the largest industrial zones, the Dedicated Freight Corridor and the northern hinterland of the country.