PSU NEWS
MGL plans to expand its business into CBG, LNG & EV segments
With a net worth of around 4,000 crores and no debt, MGL is in a strong position to pursue its expansion plans.
Mahanagar Gas Limited is an Indian natural gas distribution company.
New Delhi: Indian natural gas distribution company Mahanagar Gas Ltd (MGL) plans to expand its business beyond city gas distribution (CGD). The company is looking to enter the compressed biogas (CBG) segment, the electric vehicle market, and the sale of liquefied natural gas (LNG) as a long-distance fuel.
This decision to adopt new opportunities in the EV value chain and pass on gas price cuts to customers demonstrates a commitment to these new segments.
Read Also : Coal India Organises Training programme for capacity buildingWith a net worth of around 4,000 crores and no debt, MGL is in a strong position to pursue its expansion plans. The company has already acquired Unison Enviro Pvt. Ltd to expand into new regions and pursue inorganic growth opportunities.
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