Chennai, July 27: Tamil Nadu Chief Minister MK Stalin on Tuesday brought together the Chennai and Tiruvallur districts under the Torrent Gas market map, inaugurating 25 compressed natural gas (CNG) stations and a City Gate station o mother station.
Torrent Gas also announced an investment of approximately Rs. 5 billion in Tamil Nadu to establish the gas distribution infrastructure and other elements.
"Access to compressed natural gas, which is a cheaper and cleaner alternative to gasoline and diesel, has been a felt need by the people of Tamil Nadu. The widespread availability of CNG and the significant savings will encourage consumers to adopt it. , which will have a positive impact on the environment, "said Stalin.
"The domestic, commercial and industrial use of natural gas will stimulate further industrial development in the state," Stalin added, while assuring the company of the state government's support for Torrent Gas in establishing its infrastructure.
Torrent Gas has announced an aggressive price of Rs 51.35 / kg for CNG, in Chennai and Tiruvallur, which is the second lowest CNG price in the country after the NCR region.
At this price, the adoption of CNG as a fuel will help Chennai customers save up to 66% compared to gasoline, 61% compared to diesel and 42% to automotive LPG.
The prices of CNG are also much more stable compared to those of gasoline and diesel, which undergo frequent changes.
According to Jinal Mehta, director of Torrent Gas, the company aims to put into service 50 CNG stations by this September and 100 by June 2022.
Apart from the industrial and commercial segment, Torrent Gas plans to supply piped gas to the residential segment.
Mehta said that in the next year, the company is looking to provide 70,000 ??? 80,000 domestic connections and has also identified commercial, industrial and residential clusters.
He said steel pipes will be installed along the corners of the road.
"Torrent Gas intends to make a total investment of Rs 5,000 crore in Tamil Nadu over the next five years for the creation of CGD (urban gas distribution) infrastructure, including the installation of steel and PE pipelines to provide natural gas. by pipelines to domestic, industrial and commercial customers and the installation of CNG stations, "Mehta said.
Nationwide, Torrent Gas has already invested around Rs 1.9 billion and plans to invest around Rs 10 billion over the next five years across the country.
The company will finance capital spending with 70% debt and 30% equity from the group's parent company.
When asked about electric vehicles consuming the CNG vehicle segment and, in turn, the company's business, Mehta said that electric vehicles will take longer to arrive.
Mehta also said that the company is considering acquisitions and has already acquired three companies.
(IANS / 2 days ago) https://www.newkerala.com/tamil-nadu-news.php
