GSPL gains after executing pact for FSRU project based LNG port

Gujarat State Petronet rose 0.77% to Rs 202.80 at 19:21 IST on BSE after the company executed pact for Floating Storage and Regassification Unit project based LNG port in Amreli District, Gujarat.

The announcement was made after market hours yesterday, 18 October 2017.

Meanwhile, the S&P BSE Sensex was down 222.20 points, or 0.68%, to 32,362.15

On BSE, so far 31,000 shares were traded in the counter, compared with an average volume of 1.47 lakh shares in the past one quarter. The stock hit a high of Rs 204 and a low of Rs 201.10 so far during the day.

The large-cap company has an equity capital of Rs 563.77 crore. Face value per share is Rs 10.

Gujarat State Petronet (GSPL) announced that shareholders and share subscription agreement has been executed among SWAN LNG (SLPL) and the shareholders of SWAN LNG (SLPL) i.e SWAN Energy - (63% equity holding), Gujarat Maritime Board - (15% equity holding), Gujarat State Petronet - (11% equity holding) and FSRU Venture India One, an affiliate of Mitsui OSK Lines, Japan (11% equity holding), for development of Floating Storage and Regassification Unit (FSRU)-based LNG port with a regassification capacity of 5 MMTPA of LNG at Jafrabad in Amreli District, Gujarat by SLPL.

Gujarat State Petronet (GSPL) is India's second largest Natural Gas Infrastructure and Transmission Company. GSPL was set up to complement the efforts of GSPC. While GSPC harnesses and procures natural gas, GSPL is building the infrastructure that transmits the gas across the state of Gujarat and ultimately allows last-mile linkage to the end-user.

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