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Adani Gas to Convert to Adani Total Gas after Forming a Joint Venture with the French Giant

  • 26-Nov-2020
  • Journalist: Jaideep

The Ahmedabad based gas distribution company, Adani Gas Ltd. has announced the change of its name to Adani Total Gas Ltd., after the French giant Total bought stake in the company’s shares and the concerned board got approval for the name change on November 3. “Adani Gas is now a joint venture of Adani Group and the Total Group with each promoter possessing 37.40 per cent stake and the remaining 25.20 per cent being held with public shareholders," stated a company official. The company would be engaged in the supply of CNG to automobiles and piped natural gas to household kitchens and industrial spread across 15 geographical areas. The company is now envisioning to get more hold in its business of biogas, biofuel, bio-mass, hydrogen compressed natural gas (HCNG), liquid to compressed natural gas (LCNG), hydrogen, electric vehicle (EV), and value-added services associated to city gas distribution (CGD). The company carries city gas distribution networks in Ahmedabad and Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh. According to the company website, Adani Gas Ltd. and Indian Oil Corporation have been cumulatively awarded the task of development of gas distribution networks in Allahabad, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, and Udhamsingh Nagar.  

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