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Shell India to seek partner for Hazira LNG terminal

Shell India plans to rope in a partner for its LNG receiving and regasification terminal being set up at Hazira in Gujarat, its chairman said on Monday.

"This is a project that is being promoted as a 100 per cent Shell project, but we will be looking for partners," Vikram S Mehta told reporters on the margins of an economic conference.

Mehta said the work was "progressing very well" at the site.

In January, India's Foreign Investment Promotion Board granted a two-year extension to Shell for its proposal to build the terminal despite opposition by the oil ministry on the grounds that Shell had made no progress in implementing the project.

The initial capacity of the terminal has been pegged at 2.5 million tonnes per year, but it can be doubled after two years after being commissioned.

The terminal is expected to cost $540 million with an approved foreign equity of $162 million.

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