India: Auto Gas Co To Expand Gas Service Station Network
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Tuesday, 05 January 2010 |
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The Indian Auto Gas company, alternative fuel distributor, plans to
develop up to 1,000 gas service stations across India over the next
three year period, according to company officials.
The company, which now has 30 service station outlets in the
Chennai region, would add the remaining 970 outlets by the year 2013.
"We will invest around Rs 700 crore for the expansion. We want to be a
pan-India operator over the next three years", as stated by Indian Auto
Gas CEO S M Antony Thomas.
He said 90 per cent of these outlets would be franchise based and the
remaining, company owned. Agreements had already been signed with 13
companies in this regard, he said. The company would raise the funds
through internal accrual and debts from Banks, he said.
Stating that 95 per cent of the industry was unorganised, he said
the future is bright for LPG driven vehicles as the focus increasingly
was on "clean environment. We have been witnessing a constant rise on
usage of LPG vehicles. With company fitted vehicles hitting the road,
many customers prefer LPG fitted cars", he said.
Alternative Fuels 040110
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