National Gas Company has signed a joint venture agreement with the Qatar-based Buzwair Industrial Gases Factories on November 10, 2012.
Under the joint venture agreement, National Gas and Buzwair will establish a joint venture limited liability firm, which will carry on the activities of marketing industrial gases and undertake projects involving storage, distribution and filling of industrial gases and establishing production facilities for the same, said a statement posted on MSM web site.
National Gas will have a 49 per cent share in the joint venture company. This initiative is expected to contribute favourably in increasing the profits of the company in the future.
The new deal was signed close on the heels of the company completing acquisition of Shell's LPG assets in West Malaysia through an indirect subsidiary of the company. NGC Energy has received all necessary licences and regulatory approvals to operate the business from the relevant authorities in Malaysia.
Times Of Oman