Projects Today reported that Kolkata based Eastern Gases proposes to invest INR 200 crore in the next 2 years for setting up 100 auto LPG dispensing outlets in eastern and western India. It has tied up INR 40 crore for the project while it is in talks with various banks to tie up for 70% of the funds.

However, construction is likely to begin by September 2009 and the first 5 are expected to be operational by June 2010. It has acquired land and obtained necessary licenses for the roll out. It will source the fuel from the import to export terminal of Indian Oil Petronas at Haldia in West Bengal.

Eastern Gases, which imports and supplies bulk LPG, propane and butane to industries is also expected to set up 2 LPG manufacturing cum bottling plants in Rajasthan and Andhra Pradesh.

(Sourced from Projects Today)