Ganesh Benzoplast Terminates Joint Venture for LPG Storage Terminal at JNPT

Ganesh Benzoplast Ltd. has terminated its joint venture agreement with BW Confidence Enterprise Private Limited, BW LPG Holding Pte. Ltd., Confidence Petroleum India Limited, GBL LPG Private Limited, and GBC LPG Private Limited for the construction, development, financing, and operation of an LPG storage terminal at JNPT. The decision was mutually agreed upon due to the potential impact on LPG offtake in the dynamic and changing global and local scenario. GBL LPG has sold its entire shareholding in GBC LPG to BWC, and the Company has received a non-compete fee from BW. The termination has no material adverse impact on the Company's business, and the JNPT land parcel remains a key strategic asset. The Company plans to increase the capacity of the storage tanks and utilize the remaining land for ammonia and chemical storage, with a portion reserved for future expansion of LPG, ammonia, or liquid cargo facilities.