Torrent Gas Ltd. on Tuesday mentioned it’ll invest ₹8,000 crore over the following 5 years in increasing its metropolis fuel operations with a goal to arrange 500 CNG dishing out pumps by March 2023.
Torrent Gas, town fuel distribution (CGD) arm of Gujarat-based $3-billion Torrent Group, holds a metropolis fuel licence for promoting compressed pure fuel (CNG) to autos and piped cooking fuel (PNG) to industries and households kitchens in 32 districts throughout seven States.
Within 18 months of its operations, Torrent Gas has arrange 100 CNG pumps, its director Jinal Mehta mentioned at a digital occasion organised to announce the commissioning of 42 CNG stations.
“Torrent Gas intends to make a total investment of ₹8,000 crore ($1.1 billion) over the next five years towards the creation of CGD infrastructure in the country, of which ₹1,050 crore has already been invested,” Mr. Mehta mentioned.
Despite the constraints offered by the COVID-19 pandemic, Torrent Gas has been ready to arrange 100 CNG stations inside a comparatively brief 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, apart from making PNG widely available to industries and residences.”