Home / Companies / News /  Adani Total Gas to invest 12,000 crore in 14 new CGD geographies

MUMBAI: Adani Total Gas Ltd (ATGL), a joint venture between Adani Group and TotalEnergies, will invest 12,000 crore to expand its city gas distribution (CGD) network in 14 new Geographical Areas (GAs), the company said on Monday.

The company won these 14 new GAs in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board (PNGRB).

This will take ATGL's city gas distribution network to 52 GAs, 19 of which are operated along with its strategic JV partner Indian Oil Corporation.

With this investment, ATGL will invest a total of 20,000 crore over the next eight years to build its CGD network.

These 52 GAs account for 15% of the country covering 124 districts across 18 states and three union territories.

“Adani Total Gas is one of India’s pioneers in environment-friendly piped natural gas (PNG) and compressed natural gas (CNG). Now with the authorization of additional 14 geographical areas, our presence expands from 39 to 95 districts," said Suresh Manglani, CEO, Adani Total Gas Ltd.

The company said it is committed to providing convenient and environment-friendly natural gas for cooking and water heating to more than 9 million households, economic transport fuel for vehicles by establishing around 2,000 CNG stations and clean fuel to industrial and commercial consumers.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout