Torrent Gas to invest Rs 10k cr in 5 years; set to touch 500 CNG stations by Mar ’23

Torrent Gas, the city gas distribution business (CGD) of Ahmedabad-based Torrent Group, said on Tuesday that it plans to invest around Rs 10 billion over the next five years, across the country, which will go to the construction of CGD infrastructure, venturing into new geographies and acquiring companies.

The company, which entered Tamil Nadu by installing 25 CNG stations, said it has already invested around Rs 1.9 billion in creating CGD infrastructure, across India.

Torrent Gas intends to make a total investment of Rs 5,000 crore in Tamil Nadu over the next five years for the construction of CGD infrastructure, including the installation of steel and PE pipes to provide piped natural gas to domestic, industrial customers. and commercial and the installation of CNG stations. The project would generate direct and indirect employment for approximately 5,000 people in the state.

Speaking virtually to the media, Jinal Mehta, Director of Torrent Gas said that “Torrent Gas has significantly strengthened its position in the CGD sector with the launch of operations in Chennai, the only metropolitan city in the country licensed to a private entity. With the addition of 25 CNG stations in Chennai and Tiruvallur, Torrent now has an extensive network of 214 operational CNG stations across the country and we plan to further increase the number of operational CNG stations to 350 by March 31, 2022 and 500 for March. 31, 2023 ".

Torrent Gas has been authorized by the Oil and Natural Gas Regulatory Board (PNGRB) to establish and operate the CGD network and provide compressed natural gas (CNG) and piped natural gas (PNG) in 33 districts in seven states and one UT. Chennai was the only metro in the country, where until now there were neither CNG nor PNG.

A simultaneous mega launch of 25 CNG stations in Chennai and Tiruvallur is a significant moment in the development of CGD infrastructure in TN, as there were only 12 CNG stations in the entire state of Tamil Nadu so far. The availability of CNG will bring great relief to owners of private vehicles, car operators, taxis and commercial vehicles, who are reeling from the ever-increasing prices of gasoline and diesel.

"Torrent Gas is committed to making CNG widely available in Chennai and Tiruvallur and our goal is to commission 50 CNG stations by September 21 and 100 CNG stations by June 22," he said.

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% over gasoline, 61% over diesel and 42% over LPG for cars. CNG prices are also much more stable compared to gasoline and diesel, which change frequently, the company said.

In addition to the launch of the CNG stations, Torrent Gas has also invested deeply in raising awareness of CNG as an economical and environmentally friendly alternative to gasoline and diesel. Torrent Gas, in its efforts to promote and build an ecosystem conducive to the widespread adoption of CNG, has partnered with OEMs in the automobile, automobile, LGV and LCV segments, who are committed to a similar cause and provide various promotional offers for customers. Current gasoline car users can also convert their cars to CNG by equipping their vehicles with CNG kits of government-approved adapters, he said.