Tuesday, May 20, 2008

LPG trader Kalvacha Gas to go public.

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LPG trader Kalvacha Gas to go public. The local investor Kalvacha, headquartered in the southern city of Stara Zagora , is planning to float shares in three of its four units on the local stock exchange. The listing refers to the core trade business with LPG (liquefied petroleum gas) Kalvacha Gas, real estate entity Kalvacha Investment, and Airport Kalvacha, which is planning to run a small airport for charter flights near the rose valley town of Kazanlak in the central part of the country. Kalvacha Investment presented last month a BGN 50mn (EUR 25.6mn) plan featuring three runways to serve 40-passenger airplanes. The project will be implemented as a private-public partnership if approved by the local and central government authorities. Kalvacha Gas operates a network of 17 LPG filling stations nationwide and more than 200 rail cars used for deliveries of propane and butane. It owns a production terminal with a capacity of over 10,000 metric tones (MT) per month.

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LPG trader Kalvacha Gas to go public.

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