GSPC blames Adani for Mundra delay

Vol 18, PW 14 (12 Mar 15) News in Brief

GSPC is blaming partner Adani for yet another delay in signing the 20-year sub-concession agreement for use of the Mundra waterfront for their upcoming 5m t/y LNG terminal in Gujarat.

“We were ready to sign in January,” says GSPC. “But Adani comes up with all sorts of last minute queries.

We now think the agreement will be signed in June this year.” Adani, he adds, had doubts about how the two companies will share facilities like power, pipelines, water and road access.

GSPC (50%) and Adani (25%) have yet to confirm the name of a third strategic partner, though they have shortlisted IOC, ONGC, and BP-Reliance joint venture IGS. A Gandhinagar source says the partner will be announced only after the sub-concession is signed.

When contacted, an Adani source snapped: “The sub-concession is confidential. Why should we share details?” Since March 2014, Toyo has been working on setting up the Mundra regasification facilities while IHI is setting up the LNG storage tanks.