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Confidence Petroleum to invest Rs 500 cr towards expansion

Tuesday, 18 Jun 2019
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Confidence Petroleum, Nagpur-based auto LPG supplier, is planning to make an investment to the tune of Rs 500 crore towards expansion in the next two years.

Of the total amount planned towards expansion, Rs 300 crore will go into setting up a bottling plant. The company will pump Rs 250 crore every year. It has 196 auto LPG filling stations across different states.

The funding for the expansion will be done through internal accruals apart from raising loans.

Confidence Petroleum is planning to take it to 500 stations in Nagpur where there are five centres which will be doubled during the expansion.

Apart from Maharashtra, the company intends to add auto LPG stations in the states of Tamil Nadu, West Bengal, Rajasthan and Madhya Pradesh. It already has presence in these states, which will be further strengthened.

Apart from the main cities, it is planning to start auto LPG filling centres in tehsils and Tier-III towns.

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