GAIL (India) Limited organized a CBG Road Show at Ranchi today for promoting Compressed Bio-Gas (CBG) amongst potential entrepreneurs and other stakeholders in the CBG value chain.
The Road Show was graced by Shri Vijay Sharma, Director (Gas Processing), Ministry of Petroleum and Natural Gas (MoP&NG) and Shri Manoj Kumar, Municipal Commissioner, Ranchi Municipal Corporation (RMC). During the CBG Roadshow, GAIL Executive Director (Business Development and Project Development) Shri Santanu Roy and Executive Director (Eastern Region) Shri K B Singh were also present along with their team members.
Under SATAT scheme, GAIL and its associated City Gas Distribution Companies have webhosted Expression of Interest (EOI) document for providing marketing tie-up facility including CBG price assurance to the qualified CBG producers. GAIL also informed that discussions are in advance stage with RMC for setting up CBG Plant for processing Municipal Solid Waste (MSW).
GAIL team explained the working of Compressed Bio-Gas and its potential benefits that it will contribute in national energy security. Team from Ministry of Petroleum and Natural Gas and GAIL presented various initiatives taken by the Government of India and GAIL (India) Limited including Startup funding. The flagship Scheme of Government of India, called SATAT (Sustainable Alternative Towards Affordable Transportation) was explained to various industries who could become potential entrepreneurs in this sector. During that roadshow, various CBG technology providers informed about CBG production technologies and showed operational details of various plants already functional in India and other countries.
The Roadshow participants from various industries of Jharkhand State took note of the initiative of Government of India and the efforts undertaken by GAIL. They expressed willingness to explore business opportunities by setting up CBG plants in Jharkhand State. 'SATAT' (Sustainable Alternative Towards Affordable Transportation) initiative was launched by Hon'ble Union Minister of Petroleum and Natural Gas & Steel, Shri Dharmendra Pradhan on 01. 10.2018, under which Oil and Gas Marketing Companies i.e.. Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, GAIL (India) Limited and Indraprastha Gas Limited have invited Expression of Interest (EoI) from potential Entrepreneurs to set up the Compressed Bio Gas (CBG) plants and supply CBG. 'SATAT' initiative envisages to establish 5000 CBG plants across the country with an estimated production of 15 MMT CBG per annum by 2023.
Shares of GAIL (INDIA) LTD. was last trading in BSE at Rs.104.55 as compared to the previous close of Rs. 107.4. The total number of shares traded during the day was 422243 in over 3969 trades.
The stock hit an intraday high of Rs. 108.5 and intraday low of 102.05. The net turnover during the day was Rs. 44695910.