Torrent Gas signs MOU with Government of Tamil Nadu
To Invest Rs. 5,000 Crores in development of CGD Infrastructure
Torrent Gas, which has been authorised by Petroleum and Natural Gas Regulatory Board (PNGRB), to provide Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in Chennai and Tiruvallur districts, today signed an MOU with Government of Tamil Nadu, committing an investment of Rs. 5,000 Crores for the development of CGD infrastructure at the Growth and Investment Conclave held today in Chennai. The event was graced by Hon’ble Chief Minister of Tamil Nadu, Thiru Edappadi K. Palaniswami. Torrent Gas will be laying pipelines and other requisite infrastructure in Chennai and Tiruvallur districts over an area of 3,569 Square Kilometers to provide Piped Natural Gas (PNG) connections to homes, industries and commercial establishments and Compressed Natural Gas (CNG) to vehicles.
In a statement released on the occasion of signing of the MOU, Mr. Jinal Mehta, Director, Torrent Gas said, “We are thankful to the Government of Tamil Nadu and Hon’ble CM Thiru Edappadi K. Palaniswami for the support and facilitation offered for setting up the CGD infrastructure in the state. Natural gas is both economical and environment friendly and hence a natural choice for families, small businesses and industries. This investment of Rs. 5,000 Crores by Torrent Gas in development of CGD infrastructure is expected to have a major impact on the socio-economic development of the region by attracting fresh investment in the State which requires availability of natural gas as a pre-requisite, improving the competitiveness of existing industries using natural gas and increased savings for families and small businesses using CNG and natural gas. The investment will also provide direct and indirect employment to more than 5,000 people”. He also mentioned that as part of the first phase of the infrastructure roll-out, Torrent Gas is expecting to commission over 30 CNG stations in Chennai and Thiruvallur districts in the last quarter of the current financial year.
On the occasion, the Hon’ble Chief Minister of Tamil Nadu, Thiru Edappadi K. Palaniswami also laid the foundation stone of Torrent Gas’s first City Gate Station at Nagapattinam digitally. Torrent Gas has recently commissioned the first CNG station in the State of Tamil Nadu in Nagapattinam. The work of laying the pipelines in Nagapattinam has also commenced.
Apart from being clean source of fuel, CNG offers greater mileage and lower maintenance costs for vehicle owners. Its superior fuel efficiency and lower cost have resulted into its rapid adoption across the country as a safe and eco-friendly alternative to petrol and diesel.
Similarly, PNG offers massive savings on costs and is convenient as compared to other traditional fuels. Supply of PNG through a reliable network of pipelines will offer enhanced safety, convenience and economy to domestic, commercial and industrial customers in Chennai, Tiruvallur and Nagapattinam.