` 3,000 cr investment for LNG Regasification
Krishnapatnam Port has signed a Memorandum of Understanding (MoU) with Petrogas and the Government of Andhra Pradesh for setting up a LNG Regasification Terminal. Petrogas will commit a direct investment of 3,000 crore at Krishnapatnam, SPS Nellore District, Andhra Pradesh in the fields of LNG Regasification Terminal and allied industries. The MoU which is between Krishnapatnam Port and Petrogas was signed in the presence of Nara Chandrababu Naidu, Chief Minister, Andhra Pradesh.
The commercial operations for the project will commence within three years and is expected to create more than 500 job opportunities.