- The firm to take a position INR 8,000 crores over the following 8 years to develop pure gasoline distribution infrastructure for offering inexperienced and reasonably priced gas in Karnataka
- Investment to generate 5,000 native employment alternatives
BENGALURU, India, Nov. 2, 2022 /PRNewswire/ — AG&P Pratham, a number one participant within the Indian City Gas Distribution (CGD) trade and the Government of Karnataka signed a Memorandum of Understanding (MoU) for the event of City Gas Distribution (CGD) networks to provide dependable, economical, and environment-friendly pure gasoline throughout fifteen districts of Karnataka. The MoU was signed through the Global Investors Meet 2022 being held in Bangalore from 2nd to 4th November 2022.
Under the MoU, AG&P Pratham will make investments INR 8,000 crores over the following eight years to construct CGD networks in districts of Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri. The space being developed by AG&P accounts for greater than 55% of the state’s geographical space and 42% of its inhabitants. Over the following 8 years, AG&P plans to construct ~ 1000 km of metal pipelines, and ~5000 km of MDPE pipelines to carry pure gasoline to five million households and several other industries & business institutions. It additionally plans to arrange ~600 Compressed Natural Gas (CNG) stations and Liquified Natural Gas stations to service the transport sector.
The Government of Karnataka is dedicated to offering help to allow the event of the much-awaited CGD infrastructure, which can ship uninterrupted provide of Piped Natural Gas to households, business and industrial clients, and CNG/LNG stations.
To date, AG&P Pratham has launched 60 CNG/LNG stations within the state, whereas a number of such stations are at numerous phases of improvement. The Company has additionally developed ~200 kms of metal pipeline and has began offering family connections and industrial connections in Mysuru metropolis.
Commenting on the event, Mr Abhilesh Gupta, Managing Director & CEO, AG&P Pratham mentioned, “We are honoured to further strengthen our association with the Government of Karnataka to promote clean energy options across the State. This MoU is a testament to our consistent efforts in aligning with the Government’s vision to catapult industrial growth, providing clean and green fuel to the public at large and generating employment.”
With AG&P Pratham’s fixed endeavour to create an environment-friendly ecosystem, they are selling the usage of CNG which has a number of deserves over conventional fuels like diesel and petrol. CNG has the strongest security file and compelling financial advantages to car house owners. Natural Gas helps scale back air air pollution brought on by automobiles and industries and helps the nation transfer in the direction of accountable progress and power sufficiency.
About AG&P
AG&P Pratham is 100% Foreign Direct Investment Company comprising marque shareholders i.e. United States Based I-Squared Capital, Osaka Gas, Japan, Japanese Overseas Investment Corporation and AG&P Global. It has authorizations to develop CGD networks in 12 Geographical Areas protecting 35 districts throughout 8% of India and 64 million individuals within the states of Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. In these 35 districts, AG&P Pratham is growing and working CNG stations for automobiles, and piped pure gasoline to properties, industries, and business institutions. AG&P Pratham via its India-wide CGD community plans to cowl greater than 278,000 sq. kilometres and can have over 1,500 CNG stations and greater than 17,000 inch-km of metal pipelines. AG&P Pratham has just lately gained the India 2022 ‘Energy Company of the Year’ at ‘The Economic Times Energy Leadership Awards’.
AG&P Pratham is presently working CNG Stations within the districts of Andhra Pradesh: Anantapur, Kadapa, Chittoor, Sri Sathya Sai, Sri Balaji, Annamayya and Nellore Districts; Karnataka: Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri; Tamilnadu: Kanchipuram, Chengalpet, South East Chennai, Vellore, Ranipet, Tirupattur and Ramanathapuram; Kerala: Alappuzha, Kollam, and Thiruvananthapuram; Rajasthan: Jodhpur, Jaisalmer and Barmer.
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