IGL to expand retail network

New Delhi: Indraprastha Gas plans to invest Rs 500 crore over next two years to expand its retail network. The company also plans to add 50 new outlets before the 2010 Commomwealth Games.

The IGL Managing Director, Mr Rajesh Vedvyas, said “We would be investing a total of Rs 250 crore this fiscal, with an investment of Rs 10 crore earmarked a station. All would be through internal accruals.”

Currently, IGL gets a little less than 2 million standard cubic metres a day (mmscmd) of gas at the administered price of $1.9 every million British thermal unit and has allocation for an additional 0.7 mmscmd.