Confidence Petroleum bags contract to set up CNG MRUs from GAIL-BPCL led joint venture CUGL

The contract is expected to ease the distribution of CNG fuel in geographical areas.

Mar 24, 2021 04:03 IST India Infoline News Service

Confidence Petroleum on Wednesday said that the company has bagged another contract for setting up CNG MRUs (Mobile Refueling Units) on a built and operate basis from Central U.P. Gas Limited (CUGL) besides the earlier contracts from Maharashtra Natural Gas, Pune & Avantika, Indore.

CUGL is a joint venture of state-owned companies GAIL and BPCL.

Confidence Petroleum said that the company bagged these contracts because of its techno-commercial expertise.

The contract is expected to ease the distribution of CNG fuel in geographical areas.

With the latest contracts, the company has spread its wings in three states namely Maharashtra, Madhya Pradesh and Uttar Pradesh.

Further, Confidence Petroleum said that the company affirm setting-up of CNG MRUs in entire India with the association of Gas Distribution companies and PSU oil companies to make available the clean, cheap, sustainable and green fuel in all States of the country to alleviate pollution, a step towards materializing the plans of Government for the gas-based economy.

On Sensex, Confidence Petroleum closed at Rs43.40 per piece down by 2.14%. 

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