Adani Gas to acquire CGD network in Ludhiana, Jalandhar and Kutch (East).

Adani Gas has signed a Definitive Agreement for acquisition of 3 Geographical Areas namely Ludhiana, Jalandhar and Kutch (East).

All 3 GAs have high volumes potential in terms of demand of over 6.5 MMSCMD over a period 10 Years. These GA's are under Phase 1 of Bharat Mala Pariyojana by NHAI which will further boost the development and volume growth.

Ludhiana and Jalandhar are twin cities of Punjab and are major Industrial and Commercial hubs with very high-volume potential of CNG and PNG homes.

Both Cities are in the vicinity of the pipeline connectivity.

Kutch (East) in Gujarat is poised to take centre stage for the Industrial Development in Gujarat. AGL has strong presence in Gujarat. Kutch (East) is well connected with pipeline and R-LNG terminal infrastructures making Kutch (East) an attractive destination for the development of CGD network.

Given the availability of pipeline connectivity in the surroundings, all the 3 GAs shall offer early monetisation opportunity to AGL.

With the addition of these 3 GAs, AGL shall now have a presence in 22 GAs as a standalone entity and additional 19 Gas with JV partner with IOCL aggregating its tally to 41 Gas (74 Districts) ensuring AGL's continued leadership in CGD Business in India.

The transaction is subject to necessary regulatory and other customary approvals.

BS