Ahmedabad: Adani Total Gas has received a work order from Ahmedabad Municipal Corporation (AMC) to design, build, finance, and operate a 500-tonnes-per-day capacity Bio-CNG (CBG) plant, the company informed the regulatory exchanges on September 6. The plant will be operated by Adani Total Gas for a concession period of 20 years.

The plant is based on PPP Model. It will come up at Pirana/Gyaspur, Ahmedabad. In its latest annual report, Adani Total Gas has announced its plan to invest Rs 18,000 crore to Rs 20,000 crore in the next eight to 10 years to expand infrastructure for retailing CNG to automobiles and piped gas to households and industries. The company retails CNG to vehicles and piped natural gas (PNG) to household kitchens across 124 districts in the country. Bio-CNG is an environmental friendly fuel and has very low emissons, so it is very important to build Bio-CNG plants.

The shares of the company soared about 2 percent to an intraday high of Rs 655 on the BSE on Thursday, a day after it secured the new project.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)