Hindustan Petroleum Corporation Limited (HPCL) has acquired the balance 50 per cent equity stake in HPCL Shapoorji Energy Private Limited (HSEPL) from SP Ports Private limited company.
Post acquisition, HPCL’s stake in HSEPL gets enhanced to 100 per cent, making HSEPL a wholly-owned subsidiary of HPCL.
HSEPL is constructing a five million tonnes per annum (MTPA) LNG terminal (with provision for expansion to 10 MTPA) at Chhara in Gujarat’s Gir-Somnath district, at an estimated cost of about Rs 4,300 crores, which is likely to be completed by end of 2022.
The terminal will have all facilities for receipt of LNG through ocean-going tankers, marine unloading, storage, LNG road tanker loading, regasification, and supply of regasified LNG to the gas grid.
