The SHV Energy, a Dutch company will invest Rs 400 million to increase its Liquefied Petroleum Gas (LPG) storage capacity to 1,450 tonnes to bridge the demand-supply gap.
In a meeting with State Minister for Petroleum and Natural Resources, Mir Muhammad Naseer Mengal here on Tuesday, Company Chief Executive, Patrick J Gregory said that the company is planning to further invest Rs 400 million in LPG activities, which would improve its supply.
After this investment, its storage capacity would be increased from 200 tonnes to 1,450 tonnes at Port Qasim, which would definitely meet the demand, Gregory informed.
The SHV is the largest LPG marketing company world-wide with operation in 26 countries. It launched its operations in Pakistan in 1998 and was now the largest LPG marketing company with a market share of 20 percent.
Welcoming the Dutch company's investment plan, the Minister of State said that the government would facilitate and co-operate with them in this regard.
The government had deregulated the petroleum sector with a view to bring healthy competition in an investor-friendly atmosphere. He hoped that SHV would continue to avail the investment opportunities in the LPG sector for the mutual advantage.
Additional Secretary, Shaukat Hayat Durrani and SHV General Manager Corporate Affairs Parvez Akhtar were also present during the meeting.
Comments
Comments are closed.