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AFX Europe (Focus): Shell plans 250 mln usd expansion at India's Hazira terminal/port ops – report

Mar 27th, 2006
by admin.

Mar 27, 2006
BOMBAY (AFX) – Shell India has drawn up plans to expand the Hazira terminal and port with an investment of over 250 mln usd, Business Standard reported.
Ahead of the proposed expansion, the company is likely to sell part of its stake to some of the majors in the sector, the newspaper said.
The Royal Dutch/Shell Group holds 74 pct stake in the terminal while French oil major Total SA holds the remaining 26 pct.
Marc den Hartog, director, Shell India, confirmed that talks were on with both Indian and foreign companies for the expansion project but he declined to divulge the details of the stake sale plan, the report said.
“We are planning to expand it to a container cargo handling terminal of world scale with an investment of 250 million dollars… The entire expansion is likely to be over in three years,” he was quoted as saying.
The Shell-Total consortium is also doubling the capacity of the LNG terminal to 5 mln tonnes, the report said.
Marc told the paper that Shell did not have any plans to go for a public float. “Major companies in the sector are ready to collaborate with us and there is no need to go to the public,” he said.
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