Spacenet Enterprises India Limited and Modern Fuel Technologies have formed joint venture (JV) for setting up liquefied natural gas (LNG) projects across the country.
In Phase-I, the JV would establish 20 LNG gas stations and fuel retail outlets during 2025-2027 which would be further expanded to 180 stations in Phase-II.
Spacenet would have 15-25 per cent equity in the JV. Additionally, this is likely to be financed by a Russian major bank.