GAIL India is planning to set up a Floating Storage Regasification Unit for handling liquefied natural gas at Paradip Port in Orissa. The FRSU unit will have an intial capacity of four million tonne per annum (mtpa), reaching a peak capacity of 4.8 mtpa, with a storage capacity of 170,000 cubic metres. The first phase of the project is expected to go on stream by 2017. In the second phase, an additional four mtpa capacity will be added (peak capacity- 4.8 mtpa), raising the terminal's overall capacity to 8-10 mtpa. The project is being set up in joint venture with Paradip Port Trust. As of October 2013, both the companies had just signed an MoU for executing the project