Ganesh Benzoplast finally announces their new LPG terminal in JV with Confidence Petroleum and BW LPG Holding. I have captured the notes about this below.
06.12.2023 LPG terminal @JNPT
- LPG terminal will be the largest cryogenic storage terminal at JNPT
- Malabar invests 27 cr. @160 share price and promoters infuse 3.15 cr. @175 share price
- LPG terminal will cost 550-600 cr. for 60,000 ton (~120’000 kl) static capacity which will contribute to 150-200 cr. sales (70-75% EBITDA margins). Will be funded by 350-400 cr. debt, with rest coming from internal accruals & fund raise of 30 cr.
- Terminal should be commercialized by Q1FY26
- It’s in a JV with Confidence Petroleum and BW LPG Holding (50% shareholding for Ganesh, 45% economic interest for Ganesh)
- Confidence BW will guarantee certain monthly volumes from LPG terminal
- Cargill uses their railway terminal at JPNT, this terminal will also be used for LPG
- Cochin and JPNT are running at 100%+ utilization, Goa utilization is 40-50%
Disclosure: Not invested (no transactions in last-30 days)
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