Torrent Gas Ltd on Monday committed to invest up to Rs 5,000 crore for developing infrastructure for retail CNG (Compressed Natural Gas) to automobiles and pipe-lined gas to domestic and industrial purposes in Chennai. This project is the biggest city gas license in the pharma-to-energy Torrent Group’s portfolio.
The group’s energy unit will lay pipelines and other infrastructure covering area of about 3,569 square kilometers in Chennai and Tiruvallur districts to provide piped natural gas (PNG) connections to households and industries. The firm will also set up infrastructure to dispense CNG to automobiles.
“This investment of Rs 5,000 crore by Torrent Gas in development of CGD infrastructure is expected to have a major impact on the socio-economic development of the region by attracting fresh investment in the state,” said Jinal Mehta, Director, Torrent Gas. He said natural gas is friendly in both economical and environment way and a natural choice for families, small businesses and industries.
Currently, Torrent Gas holds city gas license for 16 geographical areas spreading across 32 districts which covers 7 states and 1 union territory (UT) of Maharashtra, Gujarat, Rajasthan, Punjab, UP, Tamil Nadu, Telangana, and Puducherry.