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IFC provides Rs 20m for construction of LNG Terminal

IFC provides Rs 20m for construction of LNG Terminal

ISLAMABAD: International Finance Corporation has provided Rs 20 million for the construction, design and operation of LNG Terminal at Port Qasim Karachi.

According to sources, International Finance Corporation (IFC) has provided Rs 20 million to Enrgo Elengy Terminal Private Limited in the term of loan and installment for the import of LNG terminal.  Sources added that these money will be spend for the design, reconstruction and operation of LNG terminal in port Qasim.

The newly constructed terminal will handle LNG of 4.5 million tons on daily basis. After completion of this project country will be able to cope with shortage of energy.

Sources further revealed that after import of LNG a sizeable decrease will be witness in import of petroleum.