Mumbai, July 30 -- Adani Total Gas Ltd has announced plans to spend around Rs 3,700 crore to set up a network of new CNG stations and expand its existing pipeline network which forms the backbone of its city gas distribution infrastructure.
Adani Total Gas Executive and Chief Executive Officer Suresh P Manglani said during the investor call today that "This year, we are likely to incur a capacity expenditure somewhere in the range of
Rs 900 to Rs 1,000 crore. As far as the next two to three years are concerned, we will do a capex
of Rs 3,500 to Rs 3,700 crore."
Most of the capex will be directed towards creation of more CNG stations and gas pipeline networks, Manglani said.
"If you look at the registrations of vehicles run on compresse...