IOC, Adani planning to invest Rs 9,600 crore in city gas projects

30 Jul 2019

Indian oil corporation (IOC) and its partner Adani Gas are planning to invest about Rs 9,600 crore in rolling out infrastructure for retailing CNG to automobiles and piped natural gas to household kitchens in 10 cities for which they recently won licences.

The two firms in 2013 had incorporated a 50:50 joint venture company, IndianOil-Adani Gas (IOAGPL), for implementation of city gas distribution (CGD) projects in various cities in the country. Over the years, IOAGPL participated in various bid rounds for city gas licence conducted by Petroleum and Natural Gas Regulatory Board (PNGRB).

IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.

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