AHMEDABAD:
Torrent Gas
Ltd plans to invest Rs 8,000 crore over the next five years for creating city gas distribution (CGD) infrastructure. The company also aims to set up 500 compressed natural gas (CNG) stations by March 2023.
“Torrent Gas intends to invest Rs 8,000 crore towards the creation of CGD infrastructure over the next five years. Of this, an amount of Rs 1,050 has already been invested so far,” said Jinal Mehta, director, Torrent Gas.
The CGD arm of the Ahmedabad-based
Torrent Group
on Tuesday announced the commissioning of 42 compressed natural gas (CNG) stations and 3 city gate stations (CGS) across several states.
These CNG and CGS stations were dedicated to the service of the community by the Union minister of petroleum, natural gas and steel Dharmendra Pradhan through a video conference.
Of the newly commissioned CNG stations, 14 are located in Uttar Pradesh, 8 in Maharashtra, 6 in Gujarat, 4 in Punjab and 5 each in Telangana and Rajasthan. One CGS each has been operationalized in Uttar Pradesh, Maharashtra and Punjab.
Torrent Gas, one of the fastest growing CGD companies in the country, has bagged the licences for selling CNG and piped natural gas (
PNG
) in 32 districts across seven states and one Union territory.
With the addition of new CNG stations, the company now has commissioned 100 CNG stations within a short span of time.
“We are now working towards our near-term goal of setting up 200 CNG stations by March 2021 and medium-term goal of setting up 500 CNG stations by March 2023,” Mehta added.
Talking about the company’s plans to foray into retailing of compressed bio-gas (CBG) and
liquefied natural gas
(LNG), he said, “we are already looking at options to enter this space in order to emerge as a futuristic energy retailing company.”
“In line with the government’s plan to promote futuristic mobility, Torrent Gas is giving final touches with respect to retailing CBG and LNG,” he added.
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