Adani Gas on Wednesday said it has acquired the city gas licences for Ludhiana, Jalandhar and Kutch (East) from Jay Madhok Energy for an undisclosed amount.
Jay Madhok Energy Pvt Ltd has been show-caused by oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) over defaulting on timelines and alleged irregularities in the acquisition of the city gas licence.
“Adani Gas has signed a definitive agreement for the acquisition of three geographical areas namely Ludhiana, Jalandhar and Kutch (East),” the firm said in a statement.
It, however, neither disclosed the name of the city gas licence holder for the three cities nor the acquisition price.
“All three geographical areas (GAs) have high volume potential in terms of demand of over 6.5 million standard cubic metres per day over a period of 10 years. These GAs are under Phase 1 of Bharat Mala Pariyojana by NHAI which will further boost the development and volume growth,” it said.
