Osaka Gas, JBIC pick minority stake in AG&P

New Delhi: Japan's Osaka Gas and JBIC have invested about $100 million in AG&P, which recently won a license to retail gas in some Indian cities and has plans to build an LNG import terminal on the east coast.

"AGP International Holdings Pte Ltd (AG&P) has received a major equity investment from two Japanese institutions to support AG&P's success in innovating and disrupting the global natural gas value chain," the company said in a statement.

Osaka Gas Co Ltd, through its affiliate Osaka Gas Singapore Pte Ltd (Osaka Gas), and the Japan Bank for International Cooperation (JBIC) have invested in "a minority stake in AG&P," it said without saying the quantum of equity stake picked up by the two.