Confidence Petroleum completes first CNG station in Kolkata for Bengal Gas Corporation Ltd

Confidence Petroleum India Limited has announced the completion of the first CNG station at Gariya colony, Kolkata for Bengal Gas Corporation Limited (BGCL). Mr. E S RANGANATHAN Chairman BGCL and Director (Marketing) of GAIL had inaugurated the station.

BGCL is a joint venture of GAIL (India) Limited (GAIL) & Greater Calcutta Gas Supply Corporation Limited (GCGSCL). The project is part of the seven stations project awarded to Confidence Petroleum India Limited for Erection, Procurement and Commissioning (EPC) of 7(seven) CNG stations in Kolkata city.

Mr. Nitin Khara, CMD of Confidence Petroleum India Limited expressed his gratitude to BGCL for the trust & faith reposed in Confidence to execute this landmark project in a very short time.

"This landmark project has marked our entry across the value chain in the CNG and LNG business segment. We will help achieve and expedite the dream of the Honorable Prime Minister and the Petroleum and Natural Gases minister for improving accessibility and availability of Natural Gas through 10,000 CNG stations in the future."

Further, he expressed his plans to set up Dealer owned CNG stations along with the CGD owners, but also help other CGD players to set up their company owned stations. Together, we will ensure faster transition for a clean and gas based economy, while ensuring greater availability and accessibility of the clean fuel for our fellow citizen.

Confidence has been also awarded 3 (three) De compressing Unit (DCU) to provide Piped Natural Gas to large residential buildings and complexes in Kolkata, West Bengal.

Shares of CONFIDENCE PETROLEUM INDIA LTD. was last trading in BSE at Rs.37.2 as compared to the previous close of Rs. 32.6. The total number of shares traded during the day was 574325 in over 2234 trades.

The stock hit an intraday high of Rs. 39.1 and intraday low of 31.85. The net turnover during the day was Rs. 21011899.

Source : Equity Bulls

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