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Web Exclusive | May 2017

Indraprastha Gas to buy out partners for expansion

The sole city gas distributor in New Delhi is looking to buy out its partners in two joint ventures as it seeks to expand beyond the capital and its suburbs. Indraprastha Gas Ltd., which owns 50 per cent in Central UP Gas Ltd. and Maharashtra Natural Gas Ltd. (with state-run GAIL India Ltd. and Bharat Petroleum Corp.), plans to wholly own both the joint ventures, managing director ES Ranganathan has stated. The company expects the acquisitions to boost sales volumes by 2.5 million cubic meters a day, against the 4.5 million it sells now in Delhi and its adjoining suburbs.
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