Indraprastha Gas Limited (IGL) and Genesis Gas Solutions have signed an agreement to form joint venture (JV) for smart meter manufacturing plant.

IGL and Genesis Gas Solutions will have 51 per cent and 49 per cent stake respectively.

The plant will entail an investment of Rs 1.1 billion with the capacity to produce 1 million meters per annum. Besides, it is likely to be operational by April 2024.