IFFCO to acquire 10 per cent stake in Swan Energy’s LNG terminal

Indian Farmers Fertiliser Cooperative Limited (IFFCO) is planning to take a 10 per cent stake in Swan Energy Limited’s floating storage regasification unit liquefied natural gas (LNG) terminal project at Jafrabad. Earlier, Tata Realty and Infrastructure Limited (TRIL) had expressed an interest in taking a 10 per cent stake in the project. According to sources, the Gujarat government had previously taken 26 per cent equity in the LNG project, through Gujarat State Petronet Limited and the Gujarat Maritime Board. The Jafrabad LNG terminal is expected to entail an investment of Rs 59 billion. It will have an initial capacity of 5 million tonnes per annum (mtpa), which can be expanded to 20 mtpa later.