The Hindu : New Delhi News : IGL presents dividend cheque

Online edition of India's National Newspaper
Saturday, Sep 23, 2006
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New Delhi

New Delhi

IGL presents dividend cheque

Staff Reporter

NEW DELHI: Indraprastha Gas Limited (IGL), the supplier of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in the Capital, presented a dividend cheque for Rs.1.75 crores on Friday to the Delhi Government -- which holds 5 per cent stake in it -- for the financial year 2005-06.

The cheque was presented by IGL Managing Director A.K. De to Delhi Lieutenant-Governor B.L. Joshi.

The gas company has announced a 25 per cent dividend for the year 2005-06 compared to 20 per cent the previous year.

The company's city gas distribution infrastructure in Delhi comprises 175.89 km of steel pipeline and 778.25 km of MDPE pipeline.

It is connected to over 54,000 households, 233 small commercial customers and 44 large commercial customers.

In addition, IGL is supplying "re-gassified LNG" to eight industrial consumers in Delhi.

In the transport sector, IGL has created 146 CNG stations and is catering to over 125,000 CNG vehicles, which include over 35,000 private cars.

A statement by the company said it is now also targeting the vast potential in the private vehicle segment and encouraging conversion of private cars to CNG mode since this makes vehicular operation 70 per cent cheaper than running on petrol and 40 per cent more economical than diesel.

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