Adani Gas bags 13 City Gas Distribution projects, will expand Pan-India

AHMEDABAD | MUMBAI | RAJKOT – In a press release submitted to the Exchanges in India on Wednesday, Adani Gas said of having bagged 13 City Gas Distribution projects will expand its presence pan-India.

Adani Gas Ltd. (AGL), the city gas distribution arm of the Adani Group, has bagged authorization from the Petroleum and Natural Gas Regulatory Board, Government of India to expand its city gas footprint in 13 new Geographical Areas (GAs) in the recently concluded 9th round of CGD bidding.

In addition, the company has also won 9 GAs in its joint venture company with Indian Oil Corporation, i.e. Indian Oil – Adani Gas Ltd. (IOAGPL).

In a national event to be held in the capital on 22nd November, 2018 – Thursday, India Prime Minister Narendra Damodardas Modi will lay the foundation stones of City Gas Distribution (CGD) projects in 65 GAs covering 129 districts recently allocated in the 9th CGD bidding.

The ceremony will be broadcasted LIVE from all locations where dignitaries from the respective State Governments and PNGRB will grace the landmark event.


Pranav Adani, Managing Director, Agro, Oil and Gas, Adani Group stated,

“Government of India has set itself a target to increase the share of natural gas in India’s primary energy mix to 15% till 2022 from the 6.5% in 2015. Given the pressing need for energy security in the country, natural gas is set to play a critical role in India’s energy strategy. With authorization to develop gas infrastructure and distribute natural gas in 13 new geographic areas in AGL and 9 GAs in IOAGPL, we continue to be at the forefront of the Indian natural gas story. We endeavor to utilize our decade-long experience and CGD expertise to expeditiously develop these new geographical areas to provide gas to consumers in an economic, reliable and safe manner using the stateof-the-art technology and automation tools.”


The company press release said of this being read as one of the major achievement by the India Prime Minister, who is committed to the reduction of India’s carbon footprint achievable through timely adoption of natural gas.

In his speech in Urja Sangam 2015 in New Delhi, he stated that “in the next four years, piped gas connections will increase from 28 lakh to 1 crore to reduce pollution in the cities.”

The development of CGD network in 65 Geographical Areas is also expected to generate significant employment opportunities.


THE ADANI GAS GRID | TODAY & FROM TOMORROW

Adani Gas is operating currently CGD network in 4 locations i.e. Ahmedabad, Baroda, Faridabad and Khurja.

Its joint venture with IOCL is currently running CGD networks at Prayagraj, Chandigarh, Panipat, Udham Singh Nagar, Daman, Dharwad, Ernakulam, South Goa and Bulandshahr.

With the Government of India planning to offer additional geographical areas for gas distribution in the Xth round involving 50 GAs comprising of 123 districts coupled with rapid urbanization, AGL is on track to become one of the largest private sector CGD companies of the world.

AGL is committed to achieve approximately 23 lakh domestic piped natural gas connections and install approximately 500 CNG stations in these 13 new GAs.

List of 13 GAs (state-wise) for which Adani Gas Limited has been granted authorization to lay city gas infrastructure and supply natural gas in the IXth round of CGD bidding is as under :

  • Surendranagar District in Gujarat (Except areas already authorized)
  • Kheda District in Gujarat (except areas already authorized),
  • Morbi District in Gujarat (Except areas already authorized)
  • Mahisagar District in Gujarat
  • Porbandar District in Gujarat
  • Barwala & Ranpur Talukas in Gujarat
  • Navsari district in Gujarat (Except areas already authorized),
  • Surat district in Gujarat (Except areas already authorized), 
  • Tapi district in Gujarat (Except areas already authorized)
  • The Dangs District in Gujarat 
  • Nuh District in Haryana
  • Palwal District in Haryana Haryana
  • Bhiwani District in Haryana,
  • Charkhi Dadri in Haryana
  • Mahendragarh District in Haryana
  • Udupi District in Karnataka
  • Cuddalore District in Tamilnadu
  • Nagapattinam District in Tamilnadu
  • Tiruvarur District in Tamilnadu
  • Tiruppur District in Tamilnadu
  • Bhilwara District in Rajasthan
  • Bundi District in Rajasthan
  • Chittorgarh District (other than Rawatbhata Taluka) in Rajasthan
  • Udaipur District in Rajasthan 
  • Balasore District in Odisha
  • Bhadrak District in Odisha
  • Mayurbhanj District in Odisha 

IMPACT ON THE COMPANY SHARE PRICE

As soon as the press communication from the company for pan-India footprint expansion in City Gas Distribution hit the Exchanges in India on Wednesday, a steep sharp upward spike was registered in the share prices of the company.

Investors & traders welcomed the development and share prices of the company zoomed to continue trading in GREEN Zone, finally ending on POSITIVE counters, while the trading session on the Indian Bourses ended on Wednesday.


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