India’s H-Energy, a unit of real estate group Hiranandani, signed a port service agreement with Kakinada Seaports (KSPL) at Hyderabad.
KSPL has the concession for Kakinada Deep Water Port from Government of Andhra Pradesh. Under the PSA, H-Energy will develop an LNG regasification and reloading terminal at Kakinada port, the company’s statement reads.
H-Energy shall develop an LNG hub at the Kakinada Port catering to the needs of domestic customers in the state of Andhra Pradesh.
It shall supply LNG through small LNG vessels to H-energy’s upcoming Kukrahati LNG terminal in the state of West Bengal and neighboring countries like Bangladesh, Myanmar, the statement reads.
The PSA along with its associated agreements envisages a long term association between the two organizations contributing towards India’s growth story, especially, the vision of the Government to promote a gas-based clean economy, H-Energy said.