Torrent Gas, the gas distribution arm of the three-billion dollar Torrent Group, plans to invest around Rs 5,000 crore in Tamil Nadu for creation of CGD (City Gas Distribution) infrastructure over five years.
The investment plans include steel and PE pipelines to provide piped natural gas to domestic, industrial and commercial customers and setting up CNG stations. They also plan to invest around Rs 10,000 crore over the next five years across the country.
The company has set up 25 CNG stations and one City Gate Station in Chennai and Thiruvallur districts which was inaugurated by the Chief Minister of Tamil Nadu, M K Stalin.
Addressing the media, Jinal Mehta, Director, Torrent Gas said, “We aim to commission 50 CNG stations by September 2021 and 100 CNG stations by June 2022. Torrent Gas intends to make a total investment of Rs 5000 crore in Tamil Nadu over the next five years towards the creation of CGD infrastructure including laying steel and PE pipelines to provide piped natural gas to domestic, industrial and commercial customers and setting up CNG stations. The project shall generate direct and indirect employment for approximately 5000 people in the state.”
Chief Minister of Tamil Nadu, MK Stalin added that, “Access to CNG, which is a cheaper and cleaner alternative to petrol and diesel has been a felt need of the people of Tamil Nadu. Widespread availability of CNG and significant savings will encourage consumers to adopt it, thereby having a positive impact on the environment. The domestic, commercial and industrial use of Natural Gas will spur further industrial development in the State.”
“With the addition of 25 CNG stations in Chennai and Tiruvallur, Torrent now has an extensive network of 214 operational CNG stations across the country and we plan to further increase the number of operational CNG stations to 350 by 31 March 2022 and 500 by 31 March 2023,” Mehta added.
Torrent Gas has already invested around Rs 1900 crore and plans to invest around Rs 10,000 crore over the next five years, across the country. The company has been authorised by Petroleum and Natural Gas Regulatory Board (PNGRB) for establishing and operating CGD network and providing Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in 33 districts across seven States and one UT.
It has announced a price of Rs 51.35/kg for CNG in Chennai and Tiruvallur, the second lowest price in the country after the NCR region. At this price, adoption of CNG as a fuel will help customers in Chennai save up to 66 percent vs petrol cost and 61 percent vs diesel. Even compared to Auto LPG, users can save around 42 percent.