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| Indian Auto Gas to set up 1,000 stations by '13 |
| BS Reporter / Chennai Aug 20, 2009, 00:35 IST |
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Chennai-based Indian Auto Gas Limited (IAGL) is planning to increase the number of company-operated auto LPG dispensing stations to around 1,000 by the year 2013.
Around 565 stations will be set up in Tamil Nadu, 261 in Andhra Pradesh, Karnataka and Maharashtra and 195 in Kerala. The company currently has 27 stations and all are franchisee-owned except one.
Talking about the expansion plans, S M Anthony Thomas, chief executive officer, IAGL, said the company would start 39 dealer-owned and operated stations and two 100-tonne storage units in Tamil Nadu and Andhra Pradesh in 2009-10.
The investment for the development will be around Rs 30 crore. Around Rs 12 crore will be funded by debt and the rest by promoters. In 2010-11, 180 outlets will be opened with an investment of Rs 127 crore. For this, the company may dilute the stake by introducing multiple partners, he added.
With this expansion, the company aims to garner 20 per cent market share in the auto gas industry.
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