GEQU to invest $78 mln in Jordan LPG storage; VT Hydrocarbon eyes more assets 07 November, 2014 Global Equity International, Inc. (GEQU) and its wholly-owned subsidiary Global Equity Partners Plc., appointed VT Hydrocarbon Holdings (Pte.) Ltd. to help raise $78 mln in order to acquire an LPG (liquid petroleum gas) storage tank facility in Jordan, with the amount already raised and secured in a letter of "Proof of Funds" from the potential investors.
“This is a fantastic opportunity due to the global shortage of storage for LPG tanks as well as VT's goal to be the primary energy storage provider in the region supplying support to other industry players such as Jordanian Petroleum Refineries, Total, and Manaseer Group,” GEQU’s CEO Peter Smith said in Dubai. “We believe VT will be a significant piece of the LPG landscape. The company is well suited to our particular market, contacts and interests, and we look forward to assisting in their growth plan during the next three years,” Smith added.
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