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Johannesburg - NGV Gas, a subsidiary of CNG Holdings, launched a compressed natural gas (CNG) public filling station at Langlaagte in Johannesburg.
CNG Holdings CEO Stephen Rothman reported that the company is in the process of converting 1 000 taxis to run on CNG.
This will allow them to refuel at the new CNG public filling station with ease.
“This will have an incredibly positive effect on the fuel and operating costs of South Africa’s most accessible form of public transport. We are also converting existing filling stations to offer Compressed Natural Gas as an alternative fuel source,” he said.
Cash injection
The launch of the latest phase of CNG Holding’s roll out of natural gas into South Africa was made possible by investment and funding in the company by the Industrial Development Corporation’s (IDC).
It acquired a 26% stake in the company in April 2013 and a further 12.64% in March 2014 giving it a total of 38.64%.
The total funding will amount to R120m by the second quarter of 2014 and will complete phase one of the CNG Groups roll out strategy.
This followed a three year feasibility study by CNG Holdings into the viability of the project.
It included a pilot phase that recorded industrial customers experiencing a 10% to 25% saving on operating fuel or energy costs (depending on fuel substituted) and vehicle tests that showed a 25% to 35% saving in running fuel costs.
CNG Holdings CEO Stephen Rothman reported that the company is in the process of converting 1 000 taxis to run on CNG.
This will allow them to refuel at the new CNG public filling station with ease.
“This will have an incredibly positive effect on the fuel and operating costs of South Africa’s most accessible form of public transport. We are also converting existing filling stations to offer Compressed Natural Gas as an alternative fuel source,” he said.
Cash injection
The launch of the latest phase of CNG Holding’s roll out of natural gas into South Africa was made possible by investment and funding in the company by the Industrial Development Corporation’s (IDC).
It acquired a 26% stake in the company in April 2013 and a further 12.64% in March 2014 giving it a total of 38.64%.
The total funding will amount to R120m by the second quarter of 2014 and will complete phase one of the CNG Groups roll out strategy.
This followed a three year feasibility study by CNG Holdings into the viability of the project.
It included a pilot phase that recorded industrial customers experiencing a 10% to 25% saving on operating fuel or energy costs (depending on fuel substituted) and vehicle tests that showed a 25% to 35% saving in running fuel costs.
