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Adani Total Gas wins order worth Rs 130-150 crore from Ahmedabad Municipal Corporation

Sep 18, 2023

By: BlinkX Research Team

Adani Total Gas gains on order win worth Rs 130-150 crore from Ahmedabad Municipal Corporation. A bio-CNG (CBG) facility with a 500-ton per-day capacity would be designed, built, funded, and managed as part of the contract. The facility would be situated in Ahmedabad's Gyaspur and run on a PPP basis. The purchase order was issued by the Ahmedabad Municipal Corporation.

"The approximate cost of the would be in the range of Rs 130 crore to Rs 150 crore," Adani Total Gas said in an exchange filing on September 16. The time period by which the order contract is to be executed is 20 years. Furthermore, the municipal corporation shall provide land for setting up the CBG plant and 500 TPD waste at the plant's doorstep.

In its most recent annual report, Adani Total Gas disclosed plans to invest between Rs 18,000 and Rs 20,000 crore over the next eight to ten years in new infrastructure to support the retailing of CNG to automobiles and piped gas to homes and businesses. The company's first-quarter profit increased by over 9% on August 1 helped by rising sales of compressed natural gas (CNG).