Adani Total Gas Ltd., the joint venture of billionaire Gautam Adani's group and French energy giant TotalEnergies, has received a work order for a 500 tonne per day bio-CNG plant in Ahmedabad from the local city body.
The work order received from the Ahmedabad Municipal Corp. is to design, build, finance, and operate the plant on a public-private partnership model, the company said in an exchange filing on Wednesday.
The Bio-CNG plant will be set up at Pirana/Gyaspur, Ahmedabad, for a concession period of 20 years.
Adani Total Gas, in its latest annual report, announced an investment of Rs 18,000 crore to Rs 20,000 crore in the next eight to 10 years to expand infrastructure for retailing CNG to automobiles and piped gas to households and industries.
The company retails CNG to automobiles and pipes gas to household kitchens for cooking purposes in 52 licences that cover 124 districts of the country. It has 460 CNG stations in the country and about 7 lakh consumers of its piped cooking gas.
It is looking to expand its network of CNG stations as well as the pipeline network that takes the gas to household kitchens and industries to tap into the country's growing appetite for cleaner fuel.
Shares of Adani Total Gas ended 1.57% higher at Rs 643.35 apiece, compared with a 0.18% advance in the Nifty 50.
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