India: SpiceGas Aims for 700 LPG/CNG Station Network
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Thursday, 11 December 2008 |
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SpiceGas plans to invest Rs 400 crore over the next seven years to set up about 700 LPG CNG gas stations in the country.
"We will invest about Rs 400 crore to set up about 700 gas stations
over the next seven years. The fund will be made available through
internal accrual and some outside investors," SpiceGas CEO Raman
Chauhan told PTI on the sidelines of the India Franchise Summit 2008.
Chauhan further said that the company is targeting a revenue of Rs
1,694 crore annually by March 2013 and Rs 3,066 crore annually by March
2018. It will set up about 40 stations in the first year in the
states of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Andhra
Pradesh.
The company is looking at both organic and inorganic routes for growth.
"We had acquired B&D last year and are on the lookout for other
smaller firms, Chauhan said. The company will adopt a mixed
approach with 20 per cent company-owned stations and the rest through
the franchisee route.
PetrolWorld 251108
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