Torrent will add 25 CNG stations in Chennai and Tiruvallur, extending its network of 214 operational CNG stations across the country
Mumbai: Torrent Gas Ltd, the gas distribution arm of $3 billion Torrent Group will invest ₹5000 crore in Tamil Nadu over the next five years to lay infrastructure for its city gas distribution (CGD) business. The company plans to invest around ₹10,000 crore over the next five years across the country.
Torrent Gas has already invested around ₹1,900 crore in India, and
On Tuesday, Torrent launched its operations in Chennai, the only metro city in the country to be authorized to a private entity.
Torrent will add 25 CNG (compressed natural gas) stations in Chennai and Tiruvallur, extending its network of 214 operational CNG stations across the country. The company further plans to increase the number of operational CNG stations to 350 by 31 March 2022 and 500 by 31 March 2023.
Jinal Mehta, director, Torrent Gas said, “Torrent Gas is committed to making CNG widely available in Chennai and Tiruvallur and we aim to commission 50 CNG stations by September 21 and 100 CNG stations by June 22. Torrent Gas intends to make a total investment of ₹5,000 crores in Tamil Nadu over the next 5 years towards the creation of CGD infrastructure including laying steel and PE pipelines to provide piped natural gas to domestic, industrial, and commercial customers and setting up CNG stations."
The project shall generate direct and indirect employment for approximately 5000 people in the state.
Torrent Gas has announced a price of ₹51.35 per kg for CNG, in Chennai and Tiruvallur, which is the second-lowest CNG price in the country after the NCR region, the company said.
At this price, the adoption of CNG as fuel will help customers in Chennai save up to 66% vis-a-vis petrol, 61% vis-à-vis diesel, and 42% vis-à-vis Auto LPG. CNG prices are also much more stable as compared to those of petrol and diesel, which undergo frequent changes.
Torrent Gas has been authorized by Petroleum and Natural Gas Regulatory Board (PNGRB) for establishing and operating CGD network and providing CNG and PNG in 33 Districts across seven states and one union territory.
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