AGP CGD India (AG&P CGD), a subsidiary of Singapore-based AG&P Group, has entered into a ₹518 crore loan agreement with L&T Infrastructure Finance Company (L&T Infrastructure Finance), an arm of L&T Finance Holdings. The fund will be utilized to develop the City Gas Distribution (CGD) networks of AG&P CGD in Jodhpur, Barmer and Jaisalmer in Rajasthan and Ramanathapuram in Tamil Nadu. The company holds exclusive licenses to build CGD networks to sell natural gas in these two Geographic Areas (GAs) in addition to 10 other GAs across India. In all, AG&P CGD has secured 12 CGD licenses for 25 years from the government of India's Petroleum & Natural Gas Regulatory Board (PNGRB) in the 9th and 10th rounds of bidding, said an official spokesperson. The licenses allow the company to supply natural gas to 12 GAs covering 28 districts in Andhra Pradesh, Karnataka, Kerala, Rajasthan and Tamil Nadu, making the company the largest foreign player in India's CGD sector.
📅Published on:
14 January 2020
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