Avantika Gas Ltd to set up 6 more CNG stations in MP.

Avantika Gas Limited (AGL) will set up six more CNG filling stations in Madhya Pradesh to meet the growing demand. At present, AGL, which is a joint venture of Gas Authority of India Limited (GAIL) and Hindustan Petroleum Corporation Limited (HPCL), has 14 CNG filling stations in the state.

'In view of the growing demand of CNG and public convenience, we have decided to set up four new filling stations in Indore and two in Gwalior in next six months with an investment of Rs. 7 crore,' AGL's Managing Director Pradeep Madaan told PTI. Besides, a new mother station will also be set up in Ujjain for supplying CNG to filling stations, he said.

Among the 14 existing CNG filling stations, 10 are in Indore while two each are situated in Ujjain and Gwalior supplying 44,000 kg CNG everyday.

The demand of CNG is increasing in all these cities as it is not only cheaper than petrol and diesel but also environment-friendly and contributes a lot in reducing pollution.

The company has also started supplying CNG to industries and at present 40 units are availing this facility. The AGL is also laying pipeline for supplying CNG to nearby Pithampur Industrial Area which will be completed soon.

Till December 31, (third quarter) of the current financial year, the company earned a total revenue of Rs. 108 crore, which is 27.36 per cent more in comparison to Rs. 84.80 crore in the corresponding period last year.

In 2012-13, the company had earned a revenue of Rs. 118 crore and which resulted in a net profit of Rs. 21 lakh, he added.

HBL