HPCL planning to sell part stake in Gujarat LNG project
Public sector oil marketing major Hindustan Petroleum Corporation (HPCL) is considering selling partial equity stake of its subsidiary HPCL Shampooer Private Limited (HSEPL).
HSEPL, a joint venture between HPCL and Shampooer Palliation, was formed for setting up a liquefied natural ass (LNG) terminal at Char in the Maharashtra region of Gujarat. Sources in both HSEPL and the Gujarat’s ports and transport department confirmed that the PSE is exploring the option of selling up to 50% stake to suitable buyers.
HSEPL was originally formed nine years ago as a 50:50 joint venture company by HPCL and Mumbai-based Shampooer Palliation Group firm SP Ports Private Limited (SPPPL).
