Torrent Gas Limited has decided to invest over Rs 80 billion over next five years in order to expand its city gas distribution (CGD) network. It will set up around 500 compressed natural gas (CNG) dispensing stations by March 2023. Of the planned investment, Torrent Gas has already invested Rs 10.5 billion so far.
Torrent Gas has recently commissioned 42 CNG stations, taking the total number of CNG stations operated by it to 100 within 18 months of its operations. It is looking to set up 200 CNG stations by March 2021 before reaching its medium term goal of setting 500 CNG stations by March 2023. According to Ministry of Petroleum and Natural Gas, the number of CNG stations has increased by more than double, from 938 CNG stations in 2014 to around 2300 stations in 2020 across India.
Torrent Gas Limited, the CGD arm of Gujarat-based $3-billion Torrent Group, holds a city gas licence to sell CNG to vehicles and piped cooking gas to industries and households in 16 geographical areas spread across 32 districts covering seven states and one union territory.