SHV, HALPG float $100 mn joint venture

MUMBAI, May 11: SHV Energy India and Hindustan Aegies LPG (HALPG) have signed a US $ 100 mn (Rs 360 crore) joint venture for importing and distribution of LPG in North-East India.

The venture involves the construction of a state-of-the-art 20,000 mt cryogenic LPG import terminal at Haldia, operated by HALPG while SHV Energy will be responsible for the development of marketing and distribution company operating under the brand name of "Super Gas".

HALPG is a joint venture between the London-based Chandaria group, an NRI family having a multinational business with a turnover of Rs 7500 crore and Vitol of the Netherlands with US $ 13 bn turnover. SHV Energy of the Netherlands through its affiliates, Calor Gas in the UK and Primagaz in France is the largest independent LPG distributor in the world.