LSE Capital Limited announced on Monday that it had acquired 10% shares of Jamshoro Joint Venture Limited (JJVL).
The listed company disclosed in a notice to the Pakistan Stock Exchange (PSX) today.
It also added that JJVL recently entered into an agreement with Sui Southern Gas Company Limited (SSGC) for the restart of LPG (liquefied petroleum gas) production.
Following the agreement, JJVL will become the largest private sector LPG producer in Pakistan.
On July 18, the SSGC Board of Directors in its meeting approved the initialled agreement between SSGC and JJVL for the extraction of LPG & NGL.
Back then, SSGC shared that the agreement had already been endorsed and approved by the Special Investment Facilitation Council (SIFC) based on the terms and conditions agreed between the parties.
Incorporated and existing under the laws of Pakistan, JJVL is an unlisted public limited company with its headquarters in Lahore and its gas-processing facilities at Jamshoro, Sindh.
As per the information available on JJVL’s website, the company’s 200mmscfd LPG extraction plant was commissioned in March 2005 and its 125mmscfd plant in October 2014.
JJVL has a total processing capacity of 345mmscfd, and represents the largest investment made so far in the country’s LPG sector.
