Construction Industry News
On Monday, Adani Total Gas Ltd (ATGL), the joint venture between Adani Group and TotalEnergies of France, told media that it will pump Rs 20,000 crore over the next 8 years to install city gas infrastructure across the country, covering 60% of the money going towards the 14 licenses it has recently won.
With the addition of 14 Geographic Areas (GAs) it acquired in the recent City Gas Distribution (CGD) bidding round, Adani Total Gas currently has a footprint in 95 counties across 12 states and serves more than 9 million households. The company is now the largest CGD player, selling CNG to cars and supplying natural gas to households in 33 GAs.
Adani Total Gas Ltd (ATGL) has secured licenses to grow its CGD network into 14 new GAs in the newly reached 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board (PNNGRB), the company said in a statement. . ATGL is currently the largest city gas distribution company serving 52 GAs, 19 of which together with its strategic joint venture (JV) partner Indian Oil Corporation (IOC).
These 52 GAs account for 15% of the nation, including 124 districts in 18 states and 3 UTs. On a standalone basis, ATGL has 33 GAs. With a growing number of products and services in the clean energy sector, ATGL is committed to providing suitable and environmentally friendly natural gas for cooking and water heating to more than 9 million households, economic transportation fuel for vehicles by installing approximately 2,000 CNG stations and clean fuel for industrial and commercial consumers.
To achieve these goals, ATGL will pump Rs 12,000 crore into these 14 additional GAs, bringing ATGL's total deployment in the clean energy sector to Rs 20,000 crore. Last week, PNGRB had announced winners for 52 of the 61 GAs that had received proposals in the final bidding round. ATGL acquired up to 14 GAs, followed by Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) which licensed 13 GAs and state-owned IOC for 8 GAs.
