Confidence Petroleum India Ltd, Nagpur, Maharashtra, has entered into an MoU to take over Petro Logistic Company Agwan Coach Pvt. Ltd of Mumbai. The acquisition of Agwan Coach, which provides logistics support to oil companies, is expected to strengthen the Rs 250-crore Confidence Petroleum’s bottling business.
Meanwhile, the Andhra Pradesh government has allotted Confidence Petroleum about 10 acres of land in a special economic zone at Visakhapatnam to establish a second CNG cylinder manufacturing plant.