Multibagger Heavy Electrical Equipment Company Awarded Contract to Set Up Mini LNG Terminal for Island Power Producers at The Bahamas
The stock gave multibagger returns of 250 per cent in just 1 year, 550 per cent in 2 years and a whopping 2,400 per cent in 5 years.
INOX India Ltd (INOXCVA), one of the world’s leading cryogenic technology solution providers, has been awarded a major contract by Island Power Producers Limited (IPP). This contract includes the turnkey design, engineering, and supply of a Mini LNG receiving and regasification terminal at The Bahamas. The terminal will feed natural gas to IPP’s 60 MW combined cycle power plant being set to provide shore power to Cruise Ships at the Nassau Cruise Port. The terminal is expected to serve as a model distribution hub for smaller LNG users, supporting power generation and other energy needs across The Bahamas.
With a collective storage capacity of 15000 m3 LNG, this would be the largest installation of shop built double-walled vacuum insulated LNG storage tanks in the world. The contract would include the supply of 10 vacuum insulated storage tanks of 1500m3 capacity and a regasification system. These tanks will be the largest double-walled vacuum insulated tanks ever made by INOXCVA, making it the biggest order ever received by its LNG business division. This would also be the largest Mini LNG Terminal made by INOXCVA, and the first of its kind in the region, dedicated to providing shore power to Cruise Ships. Once commissioned, the Mini LNG Terminal will be capable of receiving LNG through smaller ships as well as reloading of LNG in ISO Containers to service LNG users in the vicinity.
The contract for INOXCVA’s 3 rd and the largest Mini LNG terminal coincides with the completion of INOXCVA’s 2nd mini-LNG terminal set up by INOXCVA at Antigua, underlining the growing adoption and increased application of LNG as a fuel, especially in remote locations.
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About the Company
INOX India Limited (INOXCVA) is one of the largest manufacturers of Cryogenic Storage, Regas and Distribution Systems for LNG, Industrial Gases and Cryo-Scientific applications with operations in India, Brazil & Europe. The Company has an extensive user base, spread across more than 100 countries and is serviced by a network of after-sales support associates in 25 countries. The company is leading India’s efforts in adoption of LNG for industrial and automotive purposes. The Company’s key strength lies in design engineering, manufacturing, supply and commissioning of Cryogenic turnkey packaged systems with reputation and a vision to deliver a significantly higher value to its consumers.
The company has a market cap of Rs 10,793 crore and has a good return on equity (ROE) track record: 3 Years ROE 30.6 per cent. The stock gave multibagger returns of 250 per cent in just 1 year, 550 per cent in 2 years and a whopping 2,400 per cent in 5 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.