In order to expand network and build infrastructure, Hindustan Petroleum Corporation (HPCL), one of the leading petroleum products retailers in the country, is reportedly planning to invest Rs 1200 crore in the next three to five years in various city gas distribution (CGD) networks. The company already has three city gas distribution joint ventures- Aavantika Gas, Bhagyanagar Gas and Godavari Gas.
Meanwhile, Aavantika Gas, a joint venture between HPCL and GAIL (India) is aiming to increase the number of CNG stations and also domestic customers to drive profitability, while at the same time being able to meet Petroleum and Natural Gas Regulatory Board (PNGRB) and (petroleum) Ministry’s target of achieving 10 lakh domestic connections and green corridors for CNG.
HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. It owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai of 6.5 MMTPA capacity and the other in Visakhapatnam, with a capacity of 8.3 MMTPA.
