INOX India bags major LNG terminal contract in the Bahamas 

INOX India Limited has secured a contract from Island Power Producer Ltd (IPP) to build a Mini LNG Terminal in The Bahamas, the company announced in a regulatory filing on Monday. The project involves supplying 10 LNG storage tanks of 1,500m³ capacity each and a regasification system for IPP’s 60 MW combined cycle power plant.

The shares of INOX India were trading at ₹1,190 up by ₹6.80 or 0.57 per cent on the NSE today at 11.05 am.

The terminal, set to be the company’s largest mini-LNG facility to date, will provide shore power to cruise ships at the Nassau Cruise Port. With a total storage capacity of 15,000m³ LNG, it will be the world’s largest installation of shop-built double-walled vacuum insulated cryogenic tanks.

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The project will be executed in two phases, with the first phase of five tanks and regasification system scheduled for completion by February 2026, followed by the second phase of five tanks by June 2026. The facility will be capable of receiving LNG through smaller ships and reloading LNG in ISO Containers for nearby users.

This marks INOX India’s third mini-LNG terminal project, following the recent completion of their terminal in Antigua. The company will manufacture the major components at its Kandla facility. While the contract value wasn’t disclosed, the company stated this is its biggest-ever order for its LNG business division.