Adani Group, Reliance in pact for fuel distribution
The
Adani Group
and
Reliance Industries
on Wednesday announced a partnership for distribution of fuel. While select outlets of the Adani Group's
Adani Total Gas
will offer Jio-bp's petrol and diesel, certain
Jio-bp
stations will install Adani Total's CNG dispensing units, as per the agreement.
This is the second major collaboration between the two industrial giants.
In March last year, Mukesh Ambani's
Reliance Industries
had acquired a 26% stake in Adani Power's Mahan Energen Ltd. for ₹50 crore, securing 500 MW of captive power from a 600 MW Madhya Pradesh plant under a 20-year agreement.
While Adani Total manages about 650 CNG stations, Jio-bp operates around 2,000 retail outlets. The partnership is expected to provide consumers access to
high-quality fuels
.
The arrangement will be applicable to both existing and future retail outlets operated by the two companies.
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"It is our shared vision to provide a complete range of high-quality fuels at our outlets," Suresh P Manglani, the chief executive officer at Adani Total Gas, was quoted in a release as saying. "This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings," he said.
Adani Total, a
natural gas distribution
joint venture by Adani and TotalEnergies, is a leading gas distribution company in the country with a strong presence in Ahmedabad, Vadodara, Faridabad, Khurja and several districts in Assam, Chhattisgarh, and Madhya Pradesh.
This allows Adani Total to reach 34 geographical areas, with another 19 areas covered through
Indian Oil
Adani Gas Pvt Ltd (IOAGPL), a 50:50 CGD joint venture between Indian Oil and the company.
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