Edelweiss and Stolt-Nielsen in talks to develop LNG terminal at Karaikal port

Edelweiss Asset Reconstruction and Stolt-Nielsen are in talks to develop an LNG terminal at Karaikal Port on the east coast of India according to local sources.

The Port was commissioned in 2009 but has built debt since that time. Edelweiss currently holds 95% of the port’s debt so the development of an LNG terminal would be advantageous to the site, the sources said.

The Economic Times had previously reported the LNG terminal plans with talk of the terminal being circulated as far back as June 2015.

Edelweiss provides a broad range of financial products and services to a diversified client base that includes corporations, institutions and individuals. Its products and services span varied asset classes, consumer segments and geographies. The Group operates across five business clusters – Credit (including Retail Finance), Commodities, Financial Markets, Asset Management and Life Insurance across all asset classes.

For more information visit www.karaikalport.com

16th Oct 2017