IGL steps on the gas, to put in Rs 600 cr for expansion

IGL steps on the gas, to put in Rs 600 cr for expansion

Indraprastha Gas Ltd will invest Rs 600 crore this fiscal to expand operations, including starting CNG and piped cooking gas retailing in three cities of Haryana.

IGL, the sole supplier of CNG to automobiles and piped natural gas (PNG) to households in the national capital and adjoining cities of Noida, Greater Noida and Ghaziabad, is “all set to expand its footprints in Haryana through setting up city gas distribution (CGD) networks”, a company statement said.

The firm won CGD licence for Karnal district in Haryana recently, IGL Chairman S Ramesh told shareholders during his AGM speech, according to the statement.

The company has already started supply of gas in Rewari and secured permission from the Haryana government to lay down the CGD network in parts of Gurugram, formerly known as Gurgaon.

“IGL has drawn out plans to expand its area of operations by investing Rs 600 crore in 2017-18,” he said.

The governments push for cleaner fuel is expected to see more CNG-run vehicles on the street.

After the successful pilot project for CNG-based two- wheelers, Ramesh said, the company is looking to start commercial implementation soon.

IGL, he added, is looking to consolidate its presence in existing locations as well as scale up to new geographical areas — both by bidding for licences and acquiring stake in existing CGD companies.
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