Indian energy company raises funds to invest in Autogas refuelling network
Confidence Petroleum India has raised ₹78 crore (over 11 million dollars) through private placement, to develop the LPG refuelling network in India. Welcoming the new investors on, Nitin Khara, Chairman and Managing Director of Confidence Petroleum India Limited, commented: “The funds raised will help us fulfil the plan of setting up 200 LPG refuelling stations by the end of FY2019 and 500 by FY2022.”
“India’s Primer Minister has given lot of thrust to LPG demand. Confidence Petroleum is committed to promote this environment friendly and the pollution-free ‘Green Fuel’ that is Autogas,” added Khara.
Confidence Petroleum sells LPG under the brand name ‘GoGas’ and has 140 Autogas stations spread over Tamil Nadu, Karnataka, Telangana and Maharashtra. For more information, please check this link.
29 August 2018