BW LPG Limited (BWLP,BWLPG.OL) announced that it has decided to stop its investment in the planned LPG import terminal at Jawaharlal Nehru Port Association or JNPA in Navi Mumbai, India.
The project was a joint venture with BW Confidence Enterprise Private Limited, Confidence Petroleum India Ltd., and Ganesh Benzoplast Limited, aiming to build a cryogenic LPG storage facility. BW LPG had planned to invest around $10 million in this initiative.
Due to rising uncertainties in the global market, BW LPG has chosen to focus more on its core business—shipping and trading. To ensure efficient use of resources and maintain flexibility, the company said it will scale back infrastructure projects. As a result, BW LPG is stepping away from the JNPA terminal project and will no longer be involved in its development.
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