IndianOil, Adani to invest Rs 9,600 cr in CGD projects

New Delhi: Indian Oil Corp and its partner Adani Gas Ltd will invest about Rs 9,600 crore in rolling out infrastructure for retailing CNG to automobiles and PNG to households in 10 cities for which they recently won licences for, the firm said on Monday. The two firms in 2013 had incorporated a 50:50 joint venture company, IndianOil-Adani Gas Pvt Ltd, for implementation of city gas distribution (CGD) projects in various cities in the country. PTI

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