Petronet LNG Limited (PLL) board has granted in-principle approval for investment worth Rs 63.54 billion for its Gopalpur liquefied natural gas (LNG) terminal.

The project is likely to be completed in three years.

The project involves development of a land based terminal at Gopalpur in Ganjam district of Odisha with a capacity of 5 million metric tonnes per annum (mmtpa). Earlier, it was planned as a floating storage and regasification unit (FSRU) with a capacity of 4 mmtpa.