IGL shares experienced a 2% surge following the signing of a Memorandum of Understanding (MoU) with Container Corporation of India Limited (CONCOR) to drive sustainable transportation using LNG trucks.
In a concerted effort to champion environmentally conscious transportation, CONCOR and Indraprastha Gas Limited (IGL) joined forces in an MoU, exploring the potential establishment of LNG/LCNG infrastructure within CONCOR terminals. This strategic alliance seeks to transform the logistics landscape by replacing diesel with natural gas, underlining the commitment of both entities to curbing carbon emissions and fostering a cleaner, greener future for the transportation industry.
The MoU’s key highlights include the initial installation of LNG and LCNG facilities at the Dadri terminal in Gautam Budh Nagar, marking a crucial step towards reducing the carbon footprint in the logistics sector. Additionally, CONCOR and IGL are poised to investigate the transportation of LNG through railway rakes from terminals near sea ports, such as Dahej in Gujarat, to various locations across India. The collaboration also entails a joint examination of the feasibility of replacing existing diesel-fired engines with LNG-fired engines at different CONCOR terminals.
With the aim of replicating the success of the planned LNG facility at the CONCOR Dadri terminal, both entities are open to progressively implementing similar facilities at other terminals in the future.
As of 9:27 am, IGL shares were trading at ₹393.05, reflecting a 2.04% uptick fueled by investor confidence in the green and sustainable direction charted by this forward-thinking partnership.
