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.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

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.

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