Punjab-based Worthwhile Gases to enter LPG business

Punjab-based Worthwhile Gases Private Ltd (WGPL) announced its foray into non-subsidised liquefied petroleum gas (LPG) refilled cylinders and has planned to launch its services from March 1, 2015 in Punjab, Haryana, Himachal Pradesh, western Uttar Pradesh and Rajasthan. For the purpose, the company is setting up a bottling and blending plant at Buhana in Rajasthan with an installed capacity of 1,000 tonnes a month.

The company would offer two sizes of cylinders - six kg and 15 Kg - for commercial and industrial uses, respectively.

"In northern region, especially Punjab, Haryana, Himachal Pradesh there is huge gap between demand and supply of non-subsidised LPG. According to our estimates, there is a shortage of 8,000 mt of LPG a month in these three states only. Considering the burgeoning demand, we are putting up our unit in Rajasthan with technical collaboration with USA-based Torus Energy Company (TEC)," said Akshay Jain, director, WGPL.

The company is setting up its unit with an investment of Rs 7 crore having an installed capacity of 1,000 metric tonnes a month. The company would be bottling and marketing its non-subsidised LPG under the name My Gas.

He said, "The price will be Rs 1250 for a 15 kg cylinder and Rs 620 for a six kg cylinder while the gas would be sold to the end user at Rs 70 a kg."

He said the company will commence operations with 50 dealers in the region.