IOC-Adani joint venturegets City Gas contract

| Updated on: Jan 04, 2015

The Indian Oil Corporation-Adani Gas Pvt Ltd joint venture has bagged the contract to implement the City Gas Distribution (CGD) project in Ernakulam.

The Ernakulam revenue district is one of the 14 locations in the country where the Petroleum and Natural Gas Regulatory Board proposes to take up CGD project.

PNGRB has given the licence to IOC-Adani to provide piped gas to nearly five lakh residents in the district and nearby areas in two years with an estimated cost of ₹150 crore.

IOC officials said here that Kochi will be the first city in South India to roll out the CGD project and the gas will be supplied through LNG pipelines from the Petronet LNG Terminal at Puthuvypeen.

There were six bidders initially and three in the final rounds. Kerala Gail Gas Ltd, a JV between KSIDC and GAIL, was one of the three companies in the race for the project. The other two companies are Synergy Steel Pvt Ltd and the consortium of IOC-Adani.

The IOC-Adani venture has to develop the infrastructure for supplying piped natural gas to domestic consumers. The bidder will also get five-year exclusivity period and the first mover advantage.

The project could be completed in the city limits at a fast pace as most of the flats have the central LPG distribution system.

Published on January 24, 2018

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