Total LPG India Ltd, subsidiary of France-based oil and gas major Total SA, is looking at acquiring companies involved in liquefied petroleum gas (LPG) business, a top official of the company said.
Talking to FE on the sidelines of unveiling the company?s new brand identity ?Totalgaz?, Total LPG India?s deputy managing director V Rajeev said, ?we are looking to grow in both organic and inorganic routes to expand our presence across the country.?
The parent company has given green signal for its Indian subsidiary to look for acquisitions that would help the company?s growth in India, he added.
Currently, Total is importing LPG from Middle East through Mangalore Port, where the company has LPG storing facilities. From Mangalore storing plant, the company has been supplying LPG across South India.
?It would be profitable only if the LPG was supplied within the radius of 360 kms from Mangalore,? he said. If the LPG supplied beyond this distance from Mangalore, he said the logistics cost would hit margins.
Total LPG India is supplying LPG for industrial, commercial, auto and domestic market.
He said the company is interested in establishing foot print across the country, primarily Central, North and Eastern regions of the country. ?This may happen either through organic or inorganic channel in the future,? he added.
The company would establish 15 new LPG dispensing stations in the current financial year in South India.