`400 cr loss to Petronet LNG

Published on May 11, 2015 00:38:11 AM
Business
Petronet LNG has suffered a loss of `400 crore in the last fiscal due to difficulties in getting land for laying pipelines for connecting the `4,000-crore Kochi LNG terminal with demand centres in Karnataka. "About `400 crore is annual loss to Petronet," company MD&CEO A K Balyan said. He was responding to a question about the loss the company suffered due to non-starter Kochi LNG terminal.

"Commercially, we will have to see how long we can sustain this. That is a question that we will have to work out and see. That's why we have started doing some other activities there to sustain that," he said. "We are here for long-term and to see that benefits are given to this part of the country. Closing this would be a very drastic thing. I think it would be a very sorry state of affairs for the people."