AG&P PRATHAM SIGNS MOU WITH GOVERNMENT OF KARNATAKA TO DEVELOP CITY GAS DISTRIBUTION NETWORK IN THE STATE
- The company to invest INR 8,000 crores over the next 8 years to develop natural gas distribution infrastructure for providing green and affordable fuel in Karnataka
- Investment to generate 5,000 local employment opportunities
BENGALURU, India, Nov. 2, 2022 /PRNewswire/ — AG&P Pratham, a leading player in the Indian City Gas Distribution (CGD) industry and the Government of Karnataka signed a Memorandum of Understanding (MoU) for the development of City Gas Distribution (CGD) networks to supply reliable, economical, and environment-friendly natural gas across fifteen districts of Karnataka. The MoU was signed during the Global Investors Meet 2022 being held in Bangalore from 2nd to 4th November 2022.
Under the MoU, AG&P Pratham will invest INR 8,000 crores over the next eight years to build CGD networks in districts of Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri. The area being developed by AG&P accounts for more than 55% of the state’s geographical area and 42% of its population. Over the next 8 years, AG&P plans to build ~ 1000 km of steel pipelines, and ~5000 km of MDPE pipelines to bring natural gas to 5 million households and several industries & commercial establishments. It also plans to set up ~600 Compressed Natural Gas (CNG) stations and Liquified Natural Gas stations to service the transport sector.
The Government of Karnataka is committed to providing support to enable the development of the much-awaited CGD infrastructure, which will deliver uninterrupted supply of Piped Natural Gas to households, commercial and industrial customers, and CNG/LNG stations.
To date, AG&P Pratham has launched 60 CNG/LNG stations in the state, while several such stations are at various stages of development. The Company has also developed ~200 kms of steel pipeline and has started providing household connections and industrial connections in Mysuru city.
Commenting on the occasion, Mr Abhilesh Gupta, Managing Director & CEO, AG&P Pratham said, “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 constant endeavour to create an environment-friendly ecosystem, they are promoting the use of CNG which has several merits over traditional fuels like diesel and petrol. CNG has the strongest safety record and compelling economic benefits to vehicle owners. Natural Gas helps reduce air pollution caused by vehicles and industries and helps the country move towards responsible growth and energy sufficiency.
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 covering 35 districts across 8% of India and 64 million people in the states of Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. In these 35 districts, AG&P Pratham is developing and operating CNG stations for vehicles, and piped natural gas to homes, industries, and commercial establishments. AG&P Pratham through its India-wide CGD network plans to cover more than 278,000 square kilometres and will have over 1,500 CNG stations and more than 17,000 inch-km of steel pipelines. AG&P Pratham has recently won the India 2022 ‘Energy Company of the Year’ at ‘The Economic Times Energy Leadership Awards’.
AG&P Pratham is presently operating CNG Stations in 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.
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. AfternoonHeadlines.com takes no editorial responsibility for the same.