Live
- NASA Tracks Five Giant Asteroids on Close Approach to Earth Today
- Pushpa 2 Hits ₹1000 Crore in 6 Days: How It Compares to Other Top Indian Films
- Vivo X200 and X200 Pro Launched in India: Price, Specifications, and Features
- Nitin Gadkari Admits Feeling Embarrassed at Global Summits Over Rising Road Accidents in India
- Opposition Slams ‘One Nation, One Election’ Bill as Anti-Democratic; BJP Allies Support the Move
- Celebrate Karthigai Maha Deepam Virtually with Sri Mandir’s LIVE Darshan Experience
- BJP Extends Support to Samagra Shiksha Abhiyan Employees' Strike, Demands Immediate Regularization and Welfare Benefits
- Dr. M. Priyanka Stresses Quality Education, Nutritious Meals, and Cleanliness in Schools
- Mandal Level CM Cup Sports Concludes in Ija with Promising Talent and Enthusiastic Participation
- Harish Rao Slams Revanth Reddy: "More Talk, Less Action"
Torrent Gas takes over Sanwariya Gas
Torrent Gas takes over Sanwariya Gas
Torrent Gas on Tuesday said it has signed an agreement to take over Sanwariya Gas which has a licence to retail CNG to automobiles and piped gas to households for cooking purposes in Mathura
New Delhi: Torrent Gas on Tuesday said it has signed an agreement to take over Sanwariya Gas which has a licence to retail CNG to automobiles and piped gas to households for cooking purposes in Mathura.
The acquisition cements Torrent's city gas distribution network that is now spread over 33 districts in seven States and one union territory. "Torrent Gas, through its wholly-owned subsidiary, has signed a share purchase agreement (SPA) with the promoters of Sanwariya Gas for the takeover of the company which has the authorisation from Petroleum and Natural Gas Regulatory Board (PNGRB), to providecompressed natural gas(CNG) and piped natural gas (PNG) in the geographical area of Mathura," the firm said in a statement. It did not provide the value of the deal. The transaction is subject to approval from PNGRB and fulfilment of other condition precedents.
With this acquisition, Torrent Gas has authorisation to set up a city gas distribution (CGD) network across 17 geographical areas spread over 33 districts in seven states and one UT. Torrent Gas plans to invest over Rs 8,000 crore in the development of the CGD network in these districts over the next five years, of which Rs 1,500 crore has already been invested, the statement said.
