News

Hiranandani to pump in Rs 7,000 crore for green energy in Bengal

KOLKATA: After limited success in coal bed methane(CBM) exploration, Bengal may finally get access to sufficient green energy. Courtesy, Hiranandani group. The project, conceived in 2015, had some initial hiccups but now founder of the group Niranjan Hiranandani is confident that the first phase can start in two years from now.

Hi Energy (P) Ltd, the energy arm of the group, is planning to set up an offshore LNG terminal near Digha coast to bring gas in Bengal and eastern states. The total investment in the project will be over Rs 1,200 crore in first phase which is likely to scale up to Rs 7,000 crore in next few years. Hiranandani told TOI that it has tied up with K-Link, the second largest shipping company in Japan for importing LNG (liquified natural gas). Besides, it has got around 40 acres in Haldia for the project from Kolkata-based Sarda Group of Ghanshyam Sarda.

"We are proud to be a part of a project which would be of great importance for our state," said Sarda.

Hiranandani said it's planning to build and operate a world-class floating storage re-gasification unit with the ultimate capacity of 6 million tonne per annum. This unit will gasify liquid gas.

Hiranandani was confident that within two years Kolkata will get clean gas. "We are confident to do it in 24 months. We are already implementing such project in est coast and it is well on schedule. Initially we are investing in offshore vessels and connecting offshore with onshore through pipeline," he added. According to him, in the second phase it's planning to roll out city gas distribution in four other cities — Durgapur, Asansol, Haldia and Siliguri.

"We will connect five cities in 36 months," he added. Hiranandani also indicated that once production crosses critical level, the company is planning to supply green fuel to vessels plying on river.

"Being an essentially offshore project, the land requirement for it is nominal. This operation will also not interfere with the marine life," an official said.