Adani Gas Ltd has acquired three Geographical Areas — Ludhiana, Jalandhar and Kutch (East) from Jay Madhok Energy Private Limited, Jay Madhok Holdings Private Limited, lshar Gas Ludhiana Private Limited and lshar Gas Jalandhar Private Limited, multiple sources said.

All 3 GAs have high volumes potential in terms of demand of over 6.5 MMSCMD over a period 10 Years. These GA’s are under Phase 1 of Bharat Mala Pariyojana by NHAI which will further boost the development and volume growth.

This acquisition offers gains to more than 1 million households, more than seven lakh CNG vehicles and a large number of industrial and commercial customers.

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Ludhiana and Jalandhar are the twin cities of Punjab and are major industrial and commercial hubs with high-volume potential of CNG and PNG homes. Both the cities are in the vicinity of the pipeline connectivity.

Kutch (East) in Gujarat is poised to take centre stage for the industrial development in the State. AGL has strong presence in Gujarat. Kutch (East) is well-connected with pipeline and R-LNG terminal infrastructure making it an attractive destination for the development of CGD network.

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Given the availability of pipeline connectivity in the surroundings, all the 3 GAs shall offer early monetisation opportunity to AGL. With the addition of these 3 GAs, AGL shall now have a presence in 22 GAs as a standalone entity and additional 19 Gas with JV partner with IOCL aggregating its tally to 41 GAs (74 districts) ensuring AGL’s continued leadership in CGD business in India.

The transaction is subject to necessary regulatory and other customary approvals.