Former GAIL (India) Restricted chairman Manoj Jain has been appointed managing director of metropolis gasoline operator Torrent Fuel Restricted, the corporate mentioned on Thursday.
The board of Torrent Fuel, which has a license for the retail sale of CNG to automobiles and piped pure gasoline transportation to properties and industries in 34 areas throughout the nation, has appointed Jain as its managing director efficient January 1, 2024, the corporate mentioned in an announcement.
Previous to this, Jain was Chairman and Managing Director of GAIL (India) Ltd from February 2020 to August 2022.
“Jain is an skilled enterprise chief with a superb monitor file in a number of areas inside GAIL and is broadly considered an professional within the oil and gasoline sector,” the assertion learn.
She added, “Jain has wealthy and numerous expertise within the areas of enterprise growth, gasoline advertising, initiatives, petrochemicals and pipeline security administration.”
A mechanical engineer with an MBA in Operations Administration, he joined GAIL as a graduate trainee engineer in 1985 and rose via the ranks to turn out to be its President.
Talking in regards to the growth, Sameer Mehta, Chairman, Torrent Group, mentioned: “We’re delighted to welcome Manoj Jain as Managing Director of our Fuel enterprise. Jain is a confirmed and extremely revered chief within the oil and gasoline business.
“In a brief span of time, Torrent Fuel has emerged as one of many main CGD corporations in India. We’re assured that together with his huge expertise, Jain will lead Torrent Fuel to better heights,” he mentioned.
Jain mentioned town’s gasoline sector will play a key function in realizing the Prime Minister’s imaginative and prescient of constructing India a gas-dependent economic system.
He added: “Torrent Fuel is poised to leap into the period of excessive progress having already put in place a big quantity of infrastructure throughout its 34 accepted areas. I look ahead to the chance to additional strengthen Torrent Fuel’ great presence within the oil and gasoline sector.” .
The Torrent Group, with a income of Rs 37,500 crore (US$4.5 billion) and a market capitalization of Rs 1 lakh crore (US$12 billion), has a presence within the pharma, energy and metropolis gasoline distribution (CGD) sectors.
Torrent Fuel has a license to promote compressed pure gasoline (CNG) for automobiles and piped pure gasoline (PNG) to industries and households in 34 districts throughout seven states, together with Tamil Nadu, Telangana, Uttar Pradesh, Gujarat, Maharashtra, Rajasthan and Punjab. And one Union Territory (Puducherry).
The inhabitants of licensed torrent zones throughout the nation is round 9 crore, which is about 7 % of the nation’s complete inhabitants.
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(Tags for translation) Torrent Fuel