Genesis, an arm of Vikas Lifecare Limited (VLF), has inked a pact with Indraprastha Gas Limited (IGL) to set up a meter manufacturing plant at an estimated cost of Rs 110 crore.
The unit will be set up through a joint venture company, VLF said in a statement on Monday.
Genesis Gas Solutions Pvt Ltd (Genesis) has entered into a JV agreement with IGL to set up a smart meter manufacturing plant with a capex of Rs 110 crore, it added.
“The unit will manufacture diaphragm gas meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc.,” the statement said.
Initially, the smart meter plant will have an installed capacity to manufacture one million meters annually.
