Phoenix Park En­er­gy Mar­ket­ing LLC (PPEM) a whol­ly-owned sub­sidiary of Phoenix Park Gas Proces­sors Lim­it­ed

(PPG­PL) has strength­ened its re­la­tion­ship with its largest cus­tomer, In­ter­sim SA (SIM­SA GROUP, Mex­i­co) by sign­ing a non-bind­ing Let­ter of In­tent on Au­gust 9, 2023 in Mex­i­co.

This Let­ter of In­tent is ef­fec­tive for three years and doc­u­ments the in­ten­tion of both par­ties to col­lab­o­rate to­wards in­creas­ing the num­ber of rail cars of propane de­liv­ered by PPEM to SIM­SA from the cur­rent vol­ume of 300 cars per month to 650 cars per month and be­yond.

Once re­alised, PPEM will ex­pe­ri­ence a sig­nif­i­cant im­pact on its over­all prod­uct vol­umes trad­ed and con­se­quent­ly its fi­nan­cial per­for­mance, the com­pa­ny said in a state­ment yes­ter­day.

It not­ed that SIM­SA is a sig­nif­i­cant cur­rent cus­tomer of PPEM, which op­er­ates a di­ver­si­fied con­glom­er­ate of com­pa­nies across Mex­i­co and is one of the largest propane dis­trib­u­tor and re­tail­er in the Mex­i­can mar­ket.

Ac­cord­ing to the state­ment this lat­est de­vel­op­ment comes on the heels of PPG­PL sign­ing a tech­ni­cal ser­vices agree­ment with a Ghana­ian con­sor­tium to pro­vide tech­ni­cal and com­mer­cial ad­vi­so­ry ser­vices, draw­ing on its ex­per­tise in the fields of process and me­chan­i­cal en­gi­neer­ing, com­mer­cial, project man­age­ment and process op­er­a­tions.

These com­mer­cial ac­tiv­i­ties are be­ing pur­sued by PPG­PL and its sub­sidiary to di­ver­si­fy rev­enue streams, while con­tin­u­ing to grow the busi­ness along the en­er­gy val­ue chain.

PPG­PL added that it con­tin­ues to con­tribute to the NGC Group’s vi­sion, “to be a recog­nised glob­al leader in the de­vel­op­ment of sus­tain­able en­er­gy-re­lat­ed busi­ness­es.”