Torrent Gas has been authorised by the Petroleum and Natural Gas Regulatory Board (PNGRB) for establishing and operating CGD network. The company has been authorised to provide compressed natural gas (CNG) to automobiles and piped natural gas (PNG) for cooking purpose in household and as fuel to industries in 33 districts across seven states and one UT.
"Chennai was the only metro in the country where CNG and PNG were not available thus far," the company said in a statement. "A mega simultaneous launch of 25 CNG stations in Chennai and Tiruvallur is a significant moment in the development of CGD infrastructure in Tamil Nadu."
There were only 12 CNG stations in the entire state of Tamil Nadu until now.
Availability of CNG will bring great relief to private vehicle owners, auto, taxi and commercial vehicle operators, reeling under the ever-increasing prices of petrol and diesel.
While welcoming Torrent Gas to Tamil Nadu, Chief Minister M K Stalin said: "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, he said.
Speaking on the occasion, Torrent Gas Director Jinal Mehta said, "Torrent Gas has significantly strengthened its position in the CGD sector with the launch of operations in Chennai, the only metro city in the country to be authorised to a private entity."
Mehta added that 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.
Torrent said it is retailing CNG at a price of Rs 51.35 per kg in Chennai, which provides a 66 per cent saving when compared to petrol and 61 per cent against diesel.
CNG is now available at 25 CNG stations in Chennai and Tiruvallur, it said adding that the target is to double this number by September and take it to 100 by June 2022.
"We plan to further increase the number of operational CNG stations to 350 by March 31, 2022, and 500 by March 31, 2023," he said.
Torrent Gas will invest Rs 5,000 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.
At a national level, Torrent Gas has already invested around Rs 1,900 crore and plans to invest around Rs 10,000 crore over the next five years across the country, the statement said.
Torrent Gas is part of the USD 3-billion Torrent Group, which has a strong presence in pharmaceuticals, power and city gas distribution (CGD) sectors.
Torrent Pharma, the flagship company of the Group, is a dominant player in the cardiovascular and CNS segments with global presence spread across 70 countries. PTI ANZ HRS