Adani Total Gas Secures $375 Million Financing
OIL & GAS

Adani Total Gas Secures $375 Million Financing

Adani Total Gas Ltd (ATGL) announced it has secured $375 million in the largest global financing for city gas distribution, aimed at serving over 200 million people—14% of India's population. This initial financing of $315 million, with an accordion feature for increased commitments, involves five international lenders, including BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.

Strategic Impact:

Transition Fuel: CFO Parag Parikh emphasized the financing's role in enhancing city gas distribution as a transition fuel. Capital Expenditure: The funds will expedite ATGL’s capital expenditure program, facilitating rapid expansion across 34 authorized Geographical Areas (GAs) in 13 states. Infrastructure Development: The expansion aims to strengthen Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) infrastructure, fostering a gas-based economy. Government Vision Support: The usage of PNG and CNG is positioned as a convenient, cost-effective, and eco-friendly fuel option, supporting the government's goal to increase the share of natural gas in the energy mix from 6% to 15% by 2030.

ATGL, authorized in 34 GAs, plays a crucial role in enhancing natural gas usage. Of the total 53 GAs, 19 are managed by Indian Oil-Adani Gas Private Ltd (IOAGPL), a joint venture between ATGL and Indian Oil Corporation Ltd. This financing framework lays the groundwork for future funding aligned with ATGL’s strategic business plans.

Adani Total Gas Ltd (ATGL) announced it has secured $375 million in the largest global financing for city gas distribution, aimed at serving over 200 million people—14% of India's population. This initial financing of $315 million, with an accordion feature for increased commitments, involves five international lenders, including BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation. Strategic Impact: Transition Fuel: CFO Parag Parikh emphasized the financing's role in enhancing city gas distribution as a transition fuel. Capital Expenditure: The funds will expedite ATGL’s capital expenditure program, facilitating rapid expansion across 34 authorized Geographical Areas (GAs) in 13 states. Infrastructure Development: The expansion aims to strengthen Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) infrastructure, fostering a gas-based economy. Government Vision Support: The usage of PNG and CNG is positioned as a convenient, cost-effective, and eco-friendly fuel option, supporting the government's goal to increase the share of natural gas in the energy mix from 6% to 15% by 2030. ATGL, authorized in 34 GAs, plays a crucial role in enhancing natural gas usage. Of the total 53 GAs, 19 are managed by Indian Oil-Adani Gas Private Ltd (IOAGPL), a joint venture between ATGL and Indian Oil Corporation Ltd. This financing framework lays the groundwork for future funding aligned with ATGL’s strategic business plans.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code