Adani Total Gas to invest ₹12,000 crore to expand its city gas network
The company won the licences in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board.
With an increasing basket of products and services in the clean energy sector, the city gas distribution company will invest Rs 12,000 crore in these additional locations.
With the fresh investment, the company's total commitment in the clean energy sector will go up to Rs 20,000 crore.
"ATGL is committed to provide convenient and environment-friendly natural gas for cooking and water heating to more than nine million households, and economic transport fuel for vehicles by establishing around 2,000 CNG stations, and clean fuel to industrial and commercial consumers," it said.
The city gas distribution company at present caters to 52 geographical areas, covering 124 districts across 18 states and 3 UTs.
"ATGL will now cater to 10 per cent of the country's population with cleaner fuel for households as well as for transportation. Therefore, ATGL is fully committed to play a pivotal role in meeting the clean energy needs of India, and this strategic expansion is fully aligned with our commitment of nation building," said Suresh Manglani, CEO, Adani Total Gas.
Fortune oil maker Adani Wilmar is looking to acquire southern players in edible oil, FMCG industry
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