CHENNAI, May 20: Even as sanction threats loom over the sub-continent in the wake of nuclear tests conducted by the BJP-led government at the centre, Energy Equity Corporation Ltd of Australia is drawing up mega plans to increase its visibility in southern India.It is gleaned from highly-placed official sources that the Australian power developer has sounded New Delhi on its keenness to set up a couple of LNG terminals in south India. It is reportedly eager to set up an LNG terminal at Cuddalore in Tamil Nadu and is also desirous of putting up a similar terminal in Andhra Pradesh, where a suitable site is yet to be identified. The terminal projects would involve an investment outlay of over Rs 4000 crore.Energy Equity is believed to have formed some sort of an informal consortium with ABB of Australia, ANZ Grindlays, Woodside Petroleum, among others, to put in place a comprehensive blueprint for establishing two LNG terminals in the south. The proposal is believed to have the blessings of the Australiangovernment. Energy Equity, it may be recalled, has already gained a toehold in south India by picking up equity in two power projects - one each in Kerala and Tamil Nadu. In Tamil Nadu, it acquired 26 per cent equity from P C Reddy group (which runs the Apollo Hospital chain) in PPN Power Generation Co Ltd.
