Vikas Lifecare's subsidiary bags order from Gujarat Gas Limited - Details

Gujarat Gas Limited has 27 city gas distribution (CGD) licenses spread across 43 districts in 6 states and one Union territory

Vikas Lifecare is also a Del-Credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited (OPaL).

Recycling player Vikas Lifecare Ltd's subsidiary Genesis Gas Solutions has bagged an order worth Rs 495 million from Gujarat Gas Limited, India’s largest city gas distribution (CGD) company.

According to an exchange filing, Genesis Gas Solutions has been awarded orders to supply 40,000 gas meters from Gujarat Gas.

Gujarat Gas Limited has 27 CGD licenses spread across 43 districts in 6 states and one Union territory in the states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab and Madhya Pradesh and the Union Territory of Dadra & Nagar Haveli. Gujarat Gas Limited came into being on March 30 2015, upon an amalgamation of GSPC Gas Company Limited, Gujarat Gas Company Limited, Gujarat Gas Financial Services Limited and Gujarat Gas Trading Company Limited into Gujarat Gas Limited formerly GSPC Distribution Networks Limited.

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Vikas Lifecare, which recycles plastic waste to manufacture pallets and interlocking tiles for industrial applications, owns 95 per cent equity in Genesis. Vikas Lifecare is also a Del-Credere agent of ONGC (Oil and Natural Gas Corporation Ltd.) Petro Additions Limited (OPaL) - a public sector undertaking producing a wide variety of base polymers and commodity plastic raw materials.

The firm recently diversified its business interests beyond raw materials and forayed into the B2C segment with a host of consumer products including FMCG, agro and infrastructure products.

Earlier, it entered into a joint venture agreement with Indraprastha Gas Limited (IGL) to set up India's first integrated smart meter manufacturing unit. The manufacturing plant is being set up jointly by the two companies at a capital expenditure of Rs 110 crore. Notably, the government has launched a smart metering initiative to install 250 million smart meters across the country by 2025.

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