Moily inaugurates Magnet 2014, an office of Rachana World convention

Moily inaugurates Magnet 2014, an office of Rachana World convention

Mangalore Today News Network

Mangalore, Jan 19, 2014:  Union minister for petroleum and natural gas and forest and environment M Veerappa Moily inaugurated office of Magnet – 2014, at Bishop House on Jan 19, Sunday.

Magnet – 2014, a World convention and exhibition of Mangalorean Businessmen and Entrepreneurs will be organized by Rachana Catholic Chamber of Commerce and Industry.

Speaking on the occasion, Minister said that he will hold a road show in Mumbai to attract investors for his dream project of ONGC – MRPL Petrochemical Complex to be established in Mangalore.

 

 

He also said that with an aim to make India energy independent by 2030, the proposed petrochemical complex is expected to draw large number of investors with the amount of Rs 2 lakh crore enabling job opportunity and overall progress of the region.

Moily said that at present, the country is importing crude oil worth Rs 173 million dollar a year and the end of 2020, the import will be reduced by 50 percent and by 2030, it will be energy independent.

He also said that the people must consider the advantage of laying the gas pipeline positively. LPG is the real energy of the century and does not have adverse impact on the environment. The places like Gujarath and Mumbai have direct connection of LPG and hence the people of this region must understand its use and it will be only approved after having the permission from the expert committees, he added.