The official release has informed that Prime Minister Narendra Modi will lay the foundation stone for the world’s first CNG terminal project in Bhavnagar on September 29. A formal agreement to build the project in Gujarat was signed three years ago.
During the 2019 Vibrant Gujarat Global Business Summit, the Foresight Group signed an agreement with the Gujarat Maritime Board (GMB) to build a CNG terminal in Gujarat. In December 2019, the Consortium gave GMB a project proposal for building the CNG Terminal and other terminals on the north side of Bhavnagar Port.
The Government of Gujarat agreed to the project, and in September 2020, GMB sent a Letter of Intent (LOI) to Bhavnagar Port Infrastructure Private Limited (BPIPL), which is a special purpose vehicle made up of the consortium.
The brownfield port in Bhavnagar will be built at a cost of Rs 4,024 crore. It will have the world’s first CNG terminal and the world’s fourth largest lock gate system, both with the most up-to-date infrastructure.
The port should start being built in the first half of 2023, and it will be open for business in 2026.
The port will also have ultra-modern Container Terminal, Multipurpose Terminal, and Liquid Terminal with direct door-to-door connectivity to the existing road and railway network connecting to the largest industrial zones, Dedicated Freight Corridor, and northern India.
