MGL announces incorporation of joint venture ‘Mahanagar LNG Private Limited'

MGL announces incorporation of Mahanagar LNG Private Limited - MGL’s joint venture with Baidyanath LNG Private Limited

MGL announces incorporation of joint venture ‘Mahanagar LNG Private Limited'

Mumbai: Mahanagar Gas Limited (“MGL”), one of the largest City Gas Distribution companies in India, announced the incorporation of ‘Mahanagar LNG Private Limited’, its joint venture with Baidyanath LNG Private Limited, the first company to set up LNG retailing outlets in India.

The joint venture is poised to revolutionize the LNG sector under the astute leadership of Mr. Ashu Shinghal, who has been appointed as the company Chairman, and a distinguished Board of Directors including Mr. T.L. Sharnagat from MGL and Mr. Vaddadi Subbarao from Baidyanath LNG Private Limited.  Mr. GJPN Murthy from MGL will assume the role of CEO of the newly formed organization.

The joint venture company will focus on developing LNG infrastructure, catering to the increasing demand for clean and sustainable energy solutions for the long-haul & close loop transportation segments which will result in decarbonization of the trucking Industry.

The partnership between the two companies aims to help long-haul heavy-duty vehicles replace diesel with Liquified Natural Gas and reduce carbon emissions and also increase fuel efficiency. Foraying into adjacent areas, the joint venture aims to set up 6 LNG stations in Maharashtra in first phase and subsequently expand its footprint Pan-India.

Read Also : BPCL Kochi Refinery emerge winners of NIPM Young Managers’ Contest 2024

Commenting on the association, Mr. Ashu Shinghal, Managing Director, MGL and The Chairman, Mahanagar LNG Private Limited said, “This joint venture marks a significant milestone for MGL. Partnering with Baidyanath LNG Private Limited allows us to combine our strengths and establish a robust platform to address the growing demand for LNG in India. I am confident that our combined strengths will drive innovation, sustainability, and growth in the sector, marking a new chapter in India’s pursuance of clean energy.”

Mr. Vaddadi Subbarao, Director, Mahanagar LNG Private Limited echoed this sentiment, stating, “We are excited about the possibilities that Mahanagar LNG Private Limited brings to the LNG sector. Together, we aim to redefine the LNG sector and contribute towards India's energy goals. We look forward to build a sustainable and resilient LNG infrastructure.

Read Also : NTPC Wins 23rd Inter CPSU Cricket Tournament

Expressing his views on this collaboration, Mr. T.L. Sharnagat, Director, Mahanagar LNG Private Limited, commented “This collaboration marks a significant step forward in our commitment to environmental sustainability. Creation of the required LNG infrastructure will set new benchmarks for cost efficient & eco-friendly transportation. This will help us in achieving India’s commitment to attain the goal of Net Zero by 2070.

Mr. GJPN Murthy on taking over as CEO of the newly announced Company mentioned, “The newly formed Company will help to develop the LNG ecosystem in India and will assist the long haul automotive and logistics industry in adoption of a cleaner fuel.”

Read Also : 3 lakh CR annual defence production & Rs 50K crore exports expected by 2028-29: Rajnath Singh