Use UNICORN Signals App By EquityPandit
Latest News

Bharat Gas Along With 2 Others Set To Invest Rs 8000 Crores

Equitypandit_Bharat_Gas

Bharat Gas Resources Ltd, Unison Enviro Pvt. Ltd and Maharashtra Natural Gas Ltd (MNG) is set to make a joint investment expenditure of Rs. 8,000 crores over the course of two years in order to establish a city gas distribution networks in Maharashtra, as per the company officials.

According to the statements, Bharat Gas will set up a City gas distribution (CGD) network in Ahmednagar, Aurangabad Sangli and Satara districts, whereas, Unison Enviro will look after the work of infrastructure in Latur and Osmanabad. Pipelines for CGD network will be laid by MNG in Sindhudurg, Valsad, Dhule and Nashik districts.

The planned City gas distribution (CGD) network will supply CNG and PNG for use by both domestic households and by commercial and industrial segments.

According to Bharat Gas director Rajendra P. Natekar, under the CGD bidding rounds in Maharashtra, over 2 million domestic PNG connections and 381 CNG stations will be installed by September 2026.

Prime Minister Narendra Modi has recently inaugurated the project for setting up city gas networks in 50 geographical areas. India’s gas transportation regulator, The Petroleum and Natural Gas Regulatory Board (PNGRB), is planning award contracts for the project by end of February 2019.

Read EquityPandit’s Natural Gas Outlook for the Week

Get Daily Prediction & Stocks Tips On Your Mobile


Latest
IPO
Weekly
Outlook

Stock
Market
Prediction