New Delhi: Former GAIL (India) Ltd Chairman Manoj Jain has been appointed Managing Director of city gas operator Torrent Gas Ltd, the firm said on Thursday.
The Board of Torrent Gas, which has a licence to retail CNG to automobiles and piped natural gas to households and industries in 34 districts across the country, appointed Jain as its Managing Director with effect from January 1, 2024, the company said in a statement.
Prior to this, Jain was the Chairman and Managing Director of GAIL (India) Ltd from February 2020 to August 2022.
"Jain is a seasoned business leader with an excellent track record across multiple areas within GAIL and is widely considered as an expert in the oil and gas sector," the statement said.
"Jain possesses rich and diverse experience in the areas of business development, gas marketing, projects, petrochemicals and pipeline integrity management," it said.
A mechanical engineer with an MBA in operations management, he joined GAIL as a graduate engineer trainee in 1985 and rose through the ranks to become its chairman.
Speaking on the development, Samir Mehta, Chairman of Torrent Group, said, "We are delighted to welcome Manoj Jain as the Managing Director of our gas business vertical. Jain is a proven leader and commands great respect in the oil and gas industry.
"In a short span of time, Torrent Gas has emerged as one of India's leading CGD companies. We are confident that with his vast experience, Jain will lead Torrent Gas to greater heights," he said.
Jain said city gas sector will be playing a key role in realising the vision of Prime Minister to make India a gas-based economy.
"Torrent Gas is poised to leapfrog into an era of high growth having already laid a significant quantum of infrastructure across its 34 authorised districts. I look forward towards the opportunity to strengthen Torrent Gas' formidable presence in the oil and gas sector," he added.
Torrent Group, with revenues of Rs 37,500 crore (USD 4.5 billion) and the market cap of Rs 1 lakh crore (USD 12 billion), has a presence across pharmaceuticals, power and city gas distribution (CGD) sectors.
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Torrent Gas has license to sell compressed natural gas (CNG) to automobiles and piped natural gas (PNG) to industries and households in 34 districts across seven states, including Tamil Nadu, Telangana, Uttar Pradesh, Gujarat, Maharashtra, Rajasthan, and Punjab, and one Union Territory (Puducherry).
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