The proposed terminal to be set up by GSPC LNG Limited (GLL), a joint venture of GSPC and Adani group, will be set up with an estimated investment of Rs 4,000 crore.
"The terminal capacity would be expandable upto 10 MMTPA," official sources said.
"GSPC has 50 per cent stake holding in the JV, while Adani group holds 25 per cent, remaining 25 per cent will come from a strategic investor," a GSPC official told PTI.
GSPC has been scouting for a strategic investor for its LNG project, after Essar group -- the third partner with a 25 per cent stake in the venture -- exited from the proposed LNG (liquefied natural gas) terminal.
In September last year, GLL had invited global bids to select a EPC contractor for the LNG storage tanks, to be set up at its proposed LNG regasification terminal at Mundra.
The LNG terminal is designed to have two LNG storage tanks. It will have LNG receiving, re-gasification and gas evacuation facilities.
The company has awarded the front-end engineering and design (FEED) contract to Tractebel of Belgium, the company portal said.
The LNG terminal proposed to come up at Mundra will be the third one in Gujarat, after Petronet LNG's (10 MMTPA capacity) in Dahej and Shell's Hazira LNG terminal (3.6 MMTPA).
The terminal is expected to go on stream by first quarter of 2016, sources in GSPC said. Earlier, it was slated to be commissioned by 2014.
The state is also contemplating another LNG terminal at Pipavav of 2.5 to 5--MMTPA capacity, official sources said.