Torrent Gas expanding its gas distribution biz with acquisition of 3 companies
Torrent Gas, a part of the Torrent Pharma Group, has acquired three companies to expand its Pune gas distribution (CGD) business. The company has bought Mahesh Gas in Pune from the Mahesh Group. It also acquired Siti Energy in Moradabad and Dholpur CGD from Essel Group.
With the fresh acquisitions, Torrent Gas reaches 16 geographical zones in 32 districts and seven states. The firm is further planning to invest around Rs 10,000 crore in the business.
Utkarsh Bhat, VP, Marketing, Torrent Power, said, “Mahesh Group could not start operations in Pune and exited the business with the sale to Torrent. Mahesh Gas is now an associate company of the Torrent Group and would operate under the brand name, Pune Natural Gas, to supply piped natural gas and compressed natural gas (PNG & CNG) in Pune district.”
While Maharashtra Natural Gas Limited (MNGL) is handling the CGD business in Pune City area, the rest of Pune district will be handled by Torrent.
Shridhar Tambrapani, ED, Torrent Gas, stated, “As part of its phase-I network rollout plan, by March 31, 2021, the company intends to set-up over 50 CNG stations and release over one lakh residential PNG connections and also supply natural gas to industries in Pune district. The company will lay 1,800-inch km of the gas pipeline network.”
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