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With Swan Energy, Tatas seek foothold in LNG infrastructure

The unit's cost is Rs 5,600 crore and Swan Energy is open to diluting its 74% stake in the project

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Vinay UmarjiAmritha Pillay Mumbai

Swan Energy’s announcement on Wednesday of Tata Realty and Infrastructure showing interest in its liquefied natural gas terminal took bankers and consultants by surprise.  

“We have to go through a due-diligence process (for Swan deal). We have been looking at opportunities in the ports and terminals business. We have similarly expressed our interest earlier in a container terminal in Sri Lanka,” said Sanjay Ubale, managing director and chief executive officer, Tata Realty and Infrastructure.

In a stock exchange filing, Mumbai-based Swan said it had “received an expression of interest from Tata Realty and Infrastructure, showing its willingness to