Adani Total Gas secures USD 375 mn funding to expand city gas network
Adani Total Gas Ltd, the city gas joint venture of Adani group and French energy giant TotalEnergies, on Friday said it has secured USD 375 million funding from global lenders for expansion of its business. «The maiden financing of USD 375 million executed with international lenders include an initial commitment of USD 315 million with accordion feature to enhance the commitments,» the firm said in a statement.
Five international lenders participated in the initial financing — BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
«The facility will fast track the capital expenditure program enabling ATGL to rapidly expand its City Gas Distribution (CGD) network into its 34 authorized geographical areas (GAs) across 13 states,» it said.
This shall cater to up to 14 per cent of India's population covering more than 200 million people.
The expansion will deepen the penetration of piped natural gas (PNG) and compressed natural gas (CNG) infrastructure, creating an ecosystem for a gas-based economy.
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
By — Rohit Srivastava, Founder
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
ROC Made Easy: Master
