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The much-talked about LPG import terminal at Puthuvypeen near here is going to become a reality with the Cochin Port Trust (CPT) awarding the work of the jetty for super gas tankers to a private firm based in Vishakhapatnam.
"Cochin Port Trust today awarded the work of construction of Multi User Liquid Terminal (MULT) at Puthuvypeen to RKEC Projects Private Limited, Visakhapatnam for an amount of Rs 217.33 crores," the port said in a release here.
The construction work under the supervision of CPT on behalf of Indian Oil Corporation Limited (IOCL) is expected to be completed within a period of 24 months, it said. The Multi User Liquid Terminal is to facilitate mainly the import of LPG by Indian Oil Corporation which will do away with the present method of import through Mangaluru Port and supply to various destinations in Kerala by long road haulage.
The terminal is expected to import six lakh tons of LPG annually in the initial stage. The MULT project was awarded to IOCL on nomination basis in March 2013 and a Concession agreement was executed on April this year. In addition to LPG, the terminal will be used to handle bunkers and other liquids under the supervision of Cochin Port Trust.
The work consists of construction of a terminal having a 230 meters long berth for handling LPG and petroleum products for Rs 182.76 crores and a barge berth for handling bunkers for Rs 34.57 crores, the Port Trust said.
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