BENGALURU (Reuters) - Singapore-based BW LPG will invest $30 million in Confidence Petroleum India through preferential allotment of shares, and form a joint venture to develop LPG import infrastructure, the companies said on Thursday.

Confidence Petroleum will also enter into a joint venture agreement with BW VLGC to develop LPG-importing infrastructure. Both companies will have equal ownership in the newly formed joint venture company, BW Confidence Enterprise Pvt.

The joint venture will also enter into a further agreement with liquified storage tank provider Ganesh Benzoplast for the development and operation of a new LPG onshore terminal at Jawaharlal Nehru Port Association (JNPA) port in Mumbai.

Shares of Confidence Petroleum rose 2% after the announcement, while Ganesh Benzoplast surged 3.6% in early trade.

(Reporting by Manvi Pant in Bengaluru; Editing by Rashmi Aich and Eileen Soreng)