August 1, 2019. In its most ambitious expansion ever, city gas distribution company Gujarat Gas Ltd is planning to set up 200 compressed natural gas (CNG) stations across India in the next two years, even as the government pushes the idea of electric vehicles.
Last financial year, the company added 69 CNG stations, the highest ever to its tally of over 344 CNG stations.
Gujarat Gas Ltd (GGL) is present across 23 districts in the State of Gujarat, Union Territory of Dadra & Nagar Haveli and Thane Geographical Area (GA) (excluding already authorized areas), including Maharashtra’s Palghar district. In 10th CGD bidding round announced by the PNGRB, the company has won 6 GAs comprising 17 cities in the state of Punjab, Haryana, Madhya Pradesh and Rajasthan.
“The management has guided for setting up another 200 CNG stations over the next two years, which is expected to drive double-digit volume growth in the CNG segment over FY20-22E. This creates more stability in volume trends and also a stronger margin profile for the company,” Centrum Research said in its report dated 31 July.