Genesis and IGL to invest Rs 1.1 bn to build metre manufacturing plant

10 Mar 2023 CW Team

Genesis, a division of Vikas Lifecare (VLF), and Indraprastha Gas (IGL) have signed a contract to establish a metre manufacturing facility at a cost of around Rs 1.1 billion.

The unit would be established through a joint venture business.

With an investment of Rs 1.1 bn, Genesis Gas Solutions (Genesis) and IGL have formed a joint venture to build a smart metre manufacturing facility.

The business will produce diaphragm gas metres with IoT features like Bluetooth, NFC, LoRa, LoRaWAN, and NB-IoT.

The factory for smart metres will initially be able to produce one million metres annually.

IGL and Genesis will have a 51:49 ownership share in the JV.

By April 2024, the unit is anticipated to be operating.

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