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Financial closure for Ennore project likely by March
C Chitti Pantulu
Hyderabad, January 7: The financial closure for the $1.6 billion Ennore LNG project, being implemented by the Aditya Birla group-CMS Energy combine, is likely to be achieved by March this year, according to CMS Energy India managing director S Mohan Gurunath.Apart from the LNG storage terminal, the project includes a 1900 mw power component for which the promoters were in the process of finalising a PPA with the Tamil Nadu government, he told The Financial Express. While CMS and the Aditya Birla group hold 26 per cent equity respectively, Unocal holds 20 per cent while Siemens and Woodside Petroleum of Australia hold the remaining, he said. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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