Adani Group Plan: Will Gautam Adani now compete with Mukesh Ambani, will invest 20,000 crores in gas sector.

Gautam Adani can now give a big competition to Mukesh Ambani. Because Adani Group has decided to invest Rs 20,000 crore in the gas sector to beat Mukesh Ambani. Adani Total Gas Limited (ATGL) to invest Rs 18,000 crore to Rs 20,000 crore over the next 10 years on expanding infrastructure for retail sale of CNG for vehicles and piped gas to households and industries, according to a report Will go.

Apart from retailing CNG for vehicles in 124 districts of the country, the company also supplies piped domestic cooking gas. It has 460 CNG stations in the country and has about seven lakh customers of piped cooking gas. According to the new annual report, the company has invested over Rs 1,150 crore in FY 2022-23 on building additional infrastructure.

This is the intention of the company

The company’s Chief Financial Officer (CFO) Parag Parikh says that from a long-term perspective, we are optimistic about the prospects of the gas business. The company is considering investing more in building infrastructure and expanding the network. The company intends to invest around Rs 18,000-20,000 crore in the next 8 to 10 years to build infrastructure for its city gas distribution business. It will also sustain the growth in revenue while broadening the customer base.

More than 1,800 CNG stations will be built

ATGL Chief Executive Officer (CEO) Suresh P Mangalani said the company’s strategy is to accelerate the laying of steel pipelines and increase CNG stations in its licensed areas. The company is going to build more than 1,800 CNG stations across the country in the next seven to 10 years. So that CNG gas can be made available to maximum number of customers.