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GAIL’s arm inks MoU with UPSIDC

13 Jun 2014 Evaluate

GAIL (India)’s, wholly owned subsidiary, GAIL Gas, has signed Memorandum of Understanding (MoU) with Uttar Pradesh State Industrial Development Corporation (UPSIDC) to expand the Natural Gas downstream distribution network in the state of Uttar Pradesh. The investment envisaged for developing this city gas distribution (CGD) project is about Rs 140 crore.

This MoU will lay the foundation for building up natural gas infrastructure for fulfilling the demand of Natural Gas, setting up CNG stations along the highway corridor and distribution of gas to various industrial clusters and parks in Uttar Pradesh.  

The CNG corridor will enable the usage of CNG in and outside the city limit and will promote the concept of long journeys on Natural Gas vehicle. Three major CNG Corridor Projects are planned over the highways. Meanwhile, in order to cater to the demand of natural gas to Industrial Clusters in Uttar Pradesh natural gas distribution is proposed through mobile cascades. It will cover areas like Shamli, Gajraula, Saharanpur, Kosi, Sikandra, Etawah, Fatehpur Sikri, Vrindavan and Govardhan.

GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

Peers
Company Name CMP
GAIL (India) 172.00
Gujarat Energy 235.40
Indraprastha Gas 143.35
Mahanagar Gas 1047.60
Adani Total Gas 594.65
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