Midstream tanker company BW LPG has ended its investment in a planned LPG onshore import terminal in Navi Mumbai, India. (Source: Shutterstock)
Midstream tanker company BW LPG has ended its investment in a planned LPG onshore import terminal in Navi Mumbai, India, saying it will strengthen its focus on shipping and trading in an uncertain market.
BW LPG had intended to invest US$10 million in a joint venture with Confidence Petroleum India Ltd. and Ganesh Benzoplast Ltd. to develop an LPG storage facility at Jawaharlal Nehru Port Association.
BW LPG cited ongoing market uncertainties for the pullback and said it was also scaling back activities within its infrastructure segment to prioritize optimal resource allocation.
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