AG&P sets up an 8-year plan to build 1,000-km of steel pipelines and 600 CNG stations
AG&P Pratham, a 100% FDI backed by US-Japanese investors, will invest Rs.8,000 crores over the next eight years to build CGD networks in districts of Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri.
“Over the next 8 years, AG&P plans to build ~ 1,000 km of steel pipelines, and ~5,000 km of MDPE pipelines to bring natural gas to 5 million households and several industries & commercial establishments,” the company said in a release on 2 Nov 2022.
It also plans to set up ~600 Compressed Natural Gas (CNG) stations and Liquified Natural Gas stations to service the transport sector.
AG&P has signed a memorandum of understanding with Karnataka Government for development of CGD infrastructure to supply piped natural gas to households, commercial and industrial customers, and CNG/LNG stations.
The AG&P project will cover more than 55% of the state’s geographical area and 42% of its population.
To date, AG&P Pratham has launched 60 CNG/LNG stations in the state, several of which are at various stages of development. The company has also developed ~200 kms of steel pipeline and has started providing household connections and industrial connections in Mysuru city.
Commenting on the MoU, AG&P Pratham Managing Director and CEO Abhilesh Gupta said, “We are honoured to further strengthen our association with the Government of Karnataka to promote clean energy options across the State.
“This MoU is a testament to our consistent efforts in aligning with the Government’s vision to catapult industrial growth, providing clean and green fuel to the public at large and generating employment.”
The MoU was signed during the Global Investors Meet 2022 held in Bangalore from 2nd to 4th November 2022.
AG&P Pratham is 100% Foreign Direct Investment Company comprising marque shareholders i.e. United States Based I-Squared Capital, Osaka Gas, Japan, Japanese Overseas Investment Corporation and AG&P Global. It has authorizations to develop CGD networks in 12 Geographical Areas covering 35 districts across 8% of India and 64 million people in the states of Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka and Kerala. In these 35 districts, AG&P Pratham is developing and operating CNG stations for vehicles, and piped natural gas to homes, industries, and commercial establishments. AG&P Pratham through its India-wide CGD network plans to cover more than 278,000 square kilometres and will have over 1,500 CNG stations and more than 17,000 inch-km of steel pipelines. AG&P Pratham has recently won the India 2022 ‘Energy Company of the Year’ at ‘The Economic Times Energy Leadership Awards’.
AG&P Pratham is presently operating CNG Stations in the districts of Andhra Pradesh: Anantapur, Kadapa, Chittoor, Sri Sathya Sai, Sri Balaji, Annamayya and Nellore Districts; Karnataka: Kolar, Mysuru, Mandya, Chamrajnagar, Hassan, Chikkamagaluru, Kodagu, Bagalkot, Koppal, Raichur, Kalaburagi, Vijayapura, Shivamogga, Uttara Kannada and Haveri; Tamilnadu: Kanchipuram, Chengalpet, South East Chennai, Vellore, Ranipet, Tirupattur and Ramanathapuram; Kerala: Alappuzha, Kollam, and Thiruvananthapuram; Rajasthan: Jodhpur, Jaisalmer and Barmer. fiinews.com
