IOC forms JV with Adani Energy for gas distribution

Indian Oil Corporation (IOC) inked pact with Adani Energy, the gas distribution arm of the Gujarat-based Adani group, for setting up 50:50 city gas distribution joint venture,


City gas distribution (CGD) consists supply of compressed natural gas as auto fuel and piped natural gas for domestic, commercial and industrial use.

The joint venture, expected to be integrated this fiscal, will undertake CGD activities on behalf of both the companies in Uttar Pradesh, Haryana, Rajasthan, Punjab and Madhya Pradesh. Development in other States may also be considered on mutually agreed terms and conditions.