PRESS RELEASE
Dated :
15-04-2016
“Fox Petroleum Signs
MoU with Govt of Karnataka for FSRU LNG TERMINAL”
Fox Petroleum Group of Companies with
interest in Oil and Gas sector, Power Generation and Distribution is one of the
leading Company in its chosen field; With its core purpose of its existence to
“Make India a No Dark Zone”, Fox Petroleum tries to explore - what change
should India make in order to offer more secured energy future? intends to
create a strong Storage and Transportation Infrastructures like FSRU LNG
Terminals, Oil & Gas Pipelines, Oil storage Bunkers, Oil Refineries and
further Gas based Power Plants in India
followed by creating avenues for manufacturing industry in the lines of
Government of India’s “Make in India”
Campaign. It believes that by such Storage and Transportation infrastructure
will boost the Gas based Power Plants for producing More Power at low cost and
the Generated Power can be used for development of manufacturing industry
across the sectors.
This Memorandum of Understanding
is signed between M/s. Fox Petroleum Ltd an Indian arm of Fox Petroleum Group
of Companies and The Government of Karnataka (In the presence of Hon’ble
Minister Large, Medium Industries & Tourism Government of Karnataka);
MoU Signed to achieve the
following objectives: (a.) The Company proposes to set up Floating Storage
Regasification unit with Storage Capacity Plant of LNG, in Karnataka with an
investment of Rs 7000/- crores. (b). The Government of Karnataka will provide
the requisite support for implementation of the above project in the State. (c)
Create 3000 New Jobs with guarantee to hire 90% local youths.
The project will be developed in
Karawar District of Karnataka; India. Floating Storage Regasification Unit
(FSRU) LNG Terminal Offshore to process 1 billion cubic feet (bcf) of gas per
day and a storage capacity of 330,000 m3 of LNG Onshore and same capacity
Offshore to cater the Energy Need of the State of the Karnataka (India);
Fox Consultancy Services Team
with provided with the unit cost of each terminal component for three shipyards
in Korea, Japan, and Spain respectively. At current market prices, Spain is the
least-expensive location. The total cost for constructing the FSRU estimated as
US $563 million only offshore and onshore US $495 Million.
We will update again on 15 May
2016 about the Name of The EPC Contractor, who will be shortlisted among the
worlds seven most reliable developer of FSRU TERMINAL to develop “Asia’s
Biggest Capacity FSRU LNG TERMINAL”.
Thank You.
Sincerely
yours,
No comments:
Post a Comment