GAIL and Ranchi Municipal Corporation sign agreement for setting up Compressed Biagas plant

GAIL (India) Limited and Ranchi Municipal Corporation (RMC) have signed a Concession Agreement (CA) for setting up Compressed Biagas (CBG) plant in Ranchi. The agreement was signed in the presence of Hon'ble Chief Minister of Jharkhand Shri Heman! Soren, Joint Secretary, Ministry of Petroleum & Natural Gas Shri Ashish Chatterjee, Director (Business Development), GAIL Shri M V Iyer and Executive Director (Business Development), Shri Santanu Roy by Ranchi Municipal Commissioner Shri Mukesh Kumar, IAS and Executive Director (Projects), GAIL Shri KB Singh.

As per the agreement, GAIL will setup CBG Plant for processing 150 Tons per Day of Organic Municipal Solid Waste (MSW). The CBG plant will produce 5 Tons of Compressed Biagas (CBG) per day and approximately 25 Tons of Fermented Bio Manure per day.

CBG plant would be beneficial for people of Ranchi by producing clean & green fuel and will be a step towards Aatmanirbhar Bharat.

Shares of GAIL (INDIA) LTD. was last trading in BSE at Rs.131 as compared to the previous close of Rs. 134.35. The total number of shares traded during the day was 556205 in over 3493 trades.

The stock hit an intraday high of Rs. 133.9 and intraday low of 130.1. The net turnover during the day was Rs. 73138670.

Source : Equity Bulls

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