Indraprastha Gas Limited (IGL) and Genesis Gas Solutions Private Limited have formed a joint venture (JV), IGL Genesis Technologies Limited for setting up smart meter manufacturing plant in Noida.
IGL and Genesis Gas would have 51 per cent and 49 per cent stake, respectively in the JV. The plant would be set up over an area of 65,000 square feet entailing an investment of Rs 1.08 billion with the capacity to produce 1 million meters per annum. Besides, it is likely to be operational by July 2024.
IGL is an Indian natural gas distribution company that supplies natural gas as cooking and vehicular fuel. Established in 1998, the company operates primarily in Delhi-NCR and its neighbouring cities.
Genesis Gas, a subsidiary of Vikas Lifecare, is engaged in building gas metering solutions.