L&T Infrastructure Finance to lend Rs518 crore to AG&P India
MUMBAI : L&T Infrastructure Finance has signed an agreement to provide ₹518 crore as term loan to Singapore-based AG&P Group’s Indian subsidiary for developing city gas distribution (CGD) networks in Jodhpur, Barmer, Jaisalmer in Rajashtan and Ramanathapuram in Tamil Nadu, the company said today.
Petroleum Natural Gas and Regulatory Board (PNGRB) had under the ninth and tenth bidding rounds for CGD licenses awarded 12 geographical areas to AG&P CGD India.
“AG&P CGD holds the exclusive licenses to build CGD networks to sell natural gas in these two Geographic Areas (GAs) in addition to ten other GAs across India. These networks are being developed to connect millions of people to compressed natural gas (CNG) for their vehicles and piped natural gas (PNG) for their homes and businesses.
