Torrent Gas to invest Rs 8000 crore in CNG
NEW DELHI: Energy major Torrent Gas will invest Rs 8,000 crore over the next five years to set up 500 CNG dispensing pumps by March 2023, the Gujarat based company said on Tuesday. “Torrent Gas intends to make a total investment of Rs 8,000 crore (USD 1.1 billion) over the next 5 years towards the creation of city gas distribution (CGD) infrastructure in the country, of which Rs 1,050 crore has already been invested,” Torrent Gas director Jinal Mehta said at a virtual event organised to announce the commissioning of 42 CNG stations.
Torrent, which holds a city gas licence for selling CNG to vehicles and piped cooking gas to industries and households kitchens in 32 districts across seven states, has has set up 100 CNG pumps within 18 months of its operation.
