logo
MTC inks pact with firms for launching CNG filling stations

MTC inks pact with firms for launching CNG filling stations

Time of India5 hours ago
Chennai: In a push towards alternative fuels, the Metropolitan Transport Corporation (MTC) has signed agreements with two gas distribution firms — Torrent Gas Chennai Pvt Ltd and THINK Gas — for setting up
compressed natural gas
(CNG) filling stations at two bus depots.
The CNG stations will be established at MTC's existing Ambattur depot and the proposed Varadharajapuram depot along the Outer Ring Road. Torrent Gas will oversee operations in Chennai and Tiruvallur, while THINK Gas will manage the Kancheepuram and Chengalpet regions.
MTC plans to convert 240 diesel-run buses into CNG-powered vehicles. Over time, 1,000 additional buses will be converted. "Ambattur was chosen as our first location because it already has a pipeline network.
Varadharajapuram, on the other hand, is right along the Outer Ring Road, making it logistically ideal," said T Prabhushankar, managing director of MTC.
You Can Also Check:
Chennai AQI
|
Weather in Chennai
|
Bank Holidays in Chennai
|
Public Holidays in Chennai
The gas suppliers will handle the construction of the filling stations. THINK Gas's upcoming station in Varadharajapuram will be designed to handle up to 125 buses a day, with a dispensing capacity of 7,000 kg/day, said N T Thirukkumaran, regional head (Kancheepuram), THINK Gas.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Moose Approaches Girl At Bus Stop In Sverdlovskaya Oblast - Watch What Happens
Happy in Shape
Undo
However, laying groundwork comes with its own challenges. "Getting local clearances, right of way (RoW) permit, and district administrative approvals are the main challenges," he added.
To make the switch financially viable, MTC has arrived at a favourable pricing plan. For the first three years, the fuel will be priced 6% lower than diesel's landed cost, which translates to around 85.2 when diesel is 90.65 a litre. A 4 per unit discount will follow for the rest of the agreement's duration. Torrent Gas did not respond to requests for comment.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

MTC inks pact with firms for launching CNG filling stations
MTC inks pact with firms for launching CNG filling stations

Time of India

time5 hours ago

  • Time of India

MTC inks pact with firms for launching CNG filling stations

Chennai: In a push towards alternative fuels, the Metropolitan Transport Corporation (MTC) has signed agreements with two gas distribution firms — Torrent Gas Chennai Pvt Ltd and THINK Gas — for setting up compressed natural gas (CNG) filling stations at two bus depots. The CNG stations will be established at MTC's existing Ambattur depot and the proposed Varadharajapuram depot along the Outer Ring Road. Torrent Gas will oversee operations in Chennai and Tiruvallur, while THINK Gas will manage the Kancheepuram and Chengalpet regions. MTC plans to convert 240 diesel-run buses into CNG-powered vehicles. Over time, 1,000 additional buses will be converted. "Ambattur was chosen as our first location because it already has a pipeline network. Varadharajapuram, on the other hand, is right along the Outer Ring Road, making it logistically ideal," said T Prabhushankar, managing director of MTC. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai The gas suppliers will handle the construction of the filling stations. THINK Gas's upcoming station in Varadharajapuram will be designed to handle up to 125 buses a day, with a dispensing capacity of 7,000 kg/day, said N T Thirukkumaran, regional head (Kancheepuram), THINK Gas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Sverdlovskaya Oblast - Watch What Happens Happy in Shape Undo However, laying groundwork comes with its own challenges. "Getting local clearances, right of way (RoW) permit, and district administrative approvals are the main challenges," he added. To make the switch financially viable, MTC has arrived at a favourable pricing plan. For the first three years, the fuel will be priced 6% lower than diesel's landed cost, which translates to around 85.2 when diesel is 90.65 a litre. A 4 per unit discount will follow for the rest of the agreement's duration. Torrent Gas did not respond to requests for comment.

Internet firm Rediff explores options to raise $100 mn
Internet firm Rediff explores options to raise $100 mn

Time of India

time5 hours ago

  • Time of India

Internet firm Rediff explores options to raise $100 mn

Mumbai: Internet company Rediff is exploring options, including an initial public offering , to raise up to $ 100 million (around ₹875 crore) to accelerate its push into enterprise-grade email, business productivity suite and digital payments , according to sources. The company, which is majority owned by financial technology company Infibeam Avenues Ltd , is considering options such as launching an IPO, private placement, or through private equity participation to raise capital, sources privy to the development said. The board of is currently evaluating fundraising options and is expected to finalize the structure in the coming weeks, they said. However, the IPO option has a high chance of being chosen by management for its $ 100 million fundraising, sources said. When contacted, Rediff Senior Vice-President for Corporate Development, Ashish Mehrota, said, "Yes, our company explores various fundraising options from time to time. At this stage, we do not have anything specific to share, but we are evaluating options." Sources said that the company will use the funds to accelerate its push into enterprise-grade email and business productivity suite -RediffOne, and digital payment - RediffPay . Infibeam has been investing aggressively in data centres, AI platforms, and now, sovereign digital services - all areas where Rediff is expected to play a central role, sources said. The firm had launched its AI-powered productivity suite RediffOne last year and looks to offer similar services that global majors like Microsoft, Google, and Zoho are offering, sources said. While almost all major productivity suites - Microsoft 365, Google Workspace, and Zoho - are headquartered in the US or elsewhere in the West, Rediff remains the only large-scale Indian player in this category. The company claims over 20,000 businesses currently use Rediffmail Enterprise, in addition to millions of individual users on its flagship email platform.

Internet firm Rediff explores options to raise USD 100 mn
Internet firm Rediff explores options to raise USD 100 mn

The Print

time6 hours ago

  • The Print

Internet firm Rediff explores options to raise USD 100 mn

The board of is currently evaluating fundraising options and is expected to finalize the structure in the coming weeks, they said. However, the IPO option has a high chance of being chosen by management for its USD 100 million fundraising, sources said. The company, which is majority owned by financial technology company Infibeam Avenues Ltd, is considering options such as launching an IPO, private placement, or through private equity participation to raise capital, sources privy to the development said. Mumbai, Aug 4 (PTI) Internet company Rediff is exploring options, including an initial public offering, to raise up to USD 100 million (around Rs 875 crore) to accelerate its push into enterprise-grade email, business productivity suite and digital payments, according to sources. When contacted, Rediff Senior Vice-President for Corporate Development, Ashish Mehrota, said, 'Yes, our company explores various fundraising options from time to time. At this stage, we do not have anything specific to share, but we are evaluating options.' Sources said that the company will use the funds to accelerate its push into enterprise-grade email and business productivity suite -RediffOne, and digital payment – RediffPay. Infibeam has been investing aggressively in data centres, AI platforms, and now, sovereign digital services — all areas where Rediff is expected to play a central role, sources said. The firm had launched its AI-powered productivity suite RediffOne last year and looks to offer similar services that global majors like Microsoft, Google, and Zoho are offering, sources said. While almost all major productivity suites — Microsoft 365, Google Workspace, and Zoho — are headquartered in the US or elsewhere in the West, Rediff remains the only large-scale Indian player in this category. The company claims over 20,000 businesses currently use Rediffmail Enterprise, in addition to millions of individual users on its flagship email platform. PTI IAS MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store