Gautam Adani-led Adani Group will enter the petroleum retail business with French energy major Total SA. The two have signed an agreement to invest in downstream. This will include a foray into retail, with the duo opening 1,500 outlets to supply compressed natural gas (CNG) and develop various liquefied natural gas (LNG) projects.
Both the companies have set a target of developing re-gasification terminals, including one at Dhamra LNG. “It will be a big stride towards India’s vision of achieving a healthier energy mix through promotion of LNG,” the companies said in a joint statement on Wednesday.
Total and Adani will also create a joint venture with the objective of building a retail network over 10 years. These retail outlets will be on highways and intercity connections to supply CNG for vehicles. Read more
Adani Ties Up With French Energy Major Total To Enter Petrol Retail Biz added by Business-Standard.com on
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