Torrent Gas Ltd on Monday pledged ₹5,000 crore investment to develop infrastructure to retail CNG to automobiles and piped gas to households and industries in Chennai, the biggest city gas license in its portfolio.
Torrent Gas, part of the pharma-to-energy Torrent Group, signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for development of city gas infrastructure at the Growth and Investment Conclave in Chennai, the company said in a statement.
The firm will lay pipelines and other infrastructure in Chennai and Tiruvallur districts, covering an area of 3,569 square kilometres, to provide piped natural gas (PNG) connections to homes, industries and commercial establishments. It will also set up the infrastructure to dispense compressed natural gas (CNG) to automobiles.
