Latest news with #MahanagarGasLimited
Time of India
17-07-2025
- Business
- Time of India
Mahanagar Gas to invest ₹1,500 crore in battery, biogas projects
Mumbai-based natural gas distribution company Mahanagar Gas Limited - a unit of public sector undertaking GAIL - is investing about ₹1,500 crore, along with partners, to set up a battery manufacturing unit and a compressed biogas production facility over the next two years in a bid to diversify operations. Mahanagar Gas Ltd managing director Ashu Shinghal told ET that, amid the government push towards cleaner mobility solutions , the company is looking to expand its footprint in non-fossil fuel options and has earmarked capital for a foray into new energy segments. He said, "At present, almost 70 per cent of our revenues come from CNG. We conducted a study along with BCG. In essence, going forward, we have determined we will be present in at least one non-fossil fuel-related segment to secure growth opportunities in future." The company has already forged a joint venture with US-based International Battery Company to set up a giga factory in Karnataka. The government has completed land allocation for the project, construction for which is scheduled to commence later this quarter. MGL and IBC together are investing around ₹900 crore to set up the facility, which is expected to be commissioned by the end of next year. The investments will be made by IBC and MGL in proportion to their stake in the JV (ratio of 60:40).
Indian Express
20-05-2025
- Business
- Indian Express
MGL to get 18 acres in Deonar for biomethanation plant, under Gobardhan scheme
The Maharashtra Cabinet on Tuesday approved the allotment of 18 acres of land in Mumbai's Deonar area to Mahanagar Gas Limited (MGL) at a concessional rate for setting up a compressed biogas plant. The decision, taken at a cabinet meeting chaired by Deputy Chief Minister Devendra Fadnavis, is in line with the Centre's Gobardhan scheme, which aims to establish 500 biogas projects across urban India, including 75 biomethanation plants. While the capital costs for these projects will be borne by oil and gas marketing companies, states have been instructed to provide land and basic infrastructure at nominal rates. The state has cleared the proposal to lease the Deonar land to MGL for a 25-year period. The project will have a daily biomethanation capacity of 500 tonnes and will produce compressed biogas for commercial use. The annual lease fee for the land has been fixed at Rs 72,843. A Memorandum of Understanding (MoU) will be signed between Brihanmumbai Municipal Corporation (BMC) and MGL to formalise the arrangement. Officials said the project is expected to help manage solid waste sustainably while also contributing to green energy production in the city.
Time of India
23-04-2025
- Automotive
- Time of India
Now, refuel your CNG car at 15 BEST bus depots
Mumbai: Mahanagar Gas Limited has collaborated with BEST to launch MGL Tez , a refuelling facility, at 15 bus depots across the city. This will ensure private cars, whose numbers are over 5 lakh in the Mumbai Metropolitan Region, besides trucks, tempos and other vehicles do not queue up at the regular CNG refuelling outlets and can book slots at the bus depots between 8 am and 8 pm daily. Tired of too many ads? go ad free now This will reduce their wait time in refuelling queues and at the same time ease congestion on roads arising due to vehicles waiting in queue on roads, said a senior MGL official. Following pilot project at Ghatkopar and Goregaon depots, MGL Tez facility will now be extended at 13 more depots located at Anik, Deonar, Dharavi, Dindoshi, Gorai, Magathane, Majas, Mulund, Mumbai Central, Poisar, Pratiksha Nagar, Santacruz, and Wadala, for utilising the CNG infrastructure at these depots which are spread across Mumbai, said MGL deputy managing director Sanjay Shende. The CNG vehicular population in MMR has crossed the one-million mark,
