13 new geographical areas for which Adani Gas has been granted authorisation to lay city gas infrastructure are in six states which are Gujarat, Haryana, Karnataka, Tamil Nadu, Rajasthan and Odisha.
Adani Gas was locked in 20 percent upper circuit at Rs 97.80 on Wednesday after the company expanded its pan-India presence by bagging 13 city gas distribution (CGD) projects.
"AGL has bagged authorisation 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," the city gas distribution arm of the Adani Group said in its filing.
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).
Pranav Adani, Managing Director, Agro, Oil and Gas, Adani Group said, "With authorisation 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."
Government of India has set itself a target to increase the share of natural gas in India's primary energy mix to 15 percent till 2022 from the 6.5 percent in 2015.
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.
13 new geographical areas for which Adani Gas has been granted authorisation to lay city gas infrastructure and supply natural gas in the IXth round of CGD bidding are in six states which are Gujarat, Haryana, Karnataka, Tamil Nadu, Rajasthan and Odisha.
