Gail - HPCL JV, Aavantika Gas incorporated

Mumbai, June 9 (UNI) Gail India Ltd has announced that Aavantika Gas Ltd (AGL), a Joint Venture of the Company and Hindustan Petroleum Corporation Ltd (HPCL) has been incorporated.

The Joint Venture company will implement City Gas Projects for supply of Piped Natural Gas (PNG) to Domestic, Commercial and Industrial Consumers and Compressed Natural Gas (CNG) to automobile consumers in the cities of Madhya Pradesh, the release said.

AGL has plans to commence the City Gas project implementation initially in the city of Indore depending on gas availability. The Jagoti-Pithampur pipeline being laid the Company shall provide pipeline connectivity to Indore city gas project. Further, the project implementation shall be expanded to other cities of M P such as Gwalior and Ujjain on the basis of financial viability and gas availability.

With the incorporation of the AGL, the supply of PNG and CNG in the cities of M P will become a reality and residents of these cities will benefit by the use of clean, green and economical fuel for their energy requirements.

The Company has so far formed eight Joint Venture Companies which are successfully implementing the city gas projects in various cities of the country. Continuing with the market leadership, the Company is further planning to form state wise JVCs along with Oil Marketing Companies for the states of Rajasthan, Gujarat, Kerala, Karnataka and West Bengal in near future, the release added.

UNI AR PM AG1636