Adani Total Gas Secures ₹3,131 Crore from Global Banks – Major Boost for City Gas Expansion

Mumbai: Adani Total Gas, a joint venture between India’s Adani Group and French energy company Total Energies, has secured over ₹3,131 crore (about $375 million) from several global banks including BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation. This funding will help the company expand its city gas distribution network.

In a statement on Friday, the company said the loan will support its plans to speed up the development of city gas distribution in 34 geographical areas (GAs) across 13 states. This expansion will serve up to 14% of India’s population, reaching more than 200 million people.

Adani Total Gas explained that the financing includes an initial commitment of $315 million, with the option to increase it if needed. The company’s CFO, Parag Parikh, stated that this financial backing will ensure steady growth and lay the foundation for future investments. The goal is to create long-term value for stakeholders.

The expansion will increase the availability of piped natural gas (PNG) and compressed natural gas (CNG), which are seen as key to building a gas-based economy. Adani Total Gas emphasized its commitment to promoting the use of these cleaner energy sources to replace more polluting fuels, supporting India’s energy transition.

The company highlighted that PNG and CNG are convenient, cost-effective, and eco-friendly fuel options that will help reduce the country’s carbon footprint.