Adani Total Gas receives Bio CNG plant order from Ahmedabad Municipal Corporation

Adani Total Gas Limited has received order from Ahmedabad Municipal Corporation (AMC), Ahmedabad for Design, Build, Finance and Operate 500 Tonnes Per Day (TPD) Capacity Bio-CNG (CBG) Plant on PPP Model at Pirana / Gyaspur, Ahmedabad and AMC shall provide land for setting up the CBG plant and 500 TPD of waste at the doorstep of the plant.

The approx. project cost would be in the range of Rs. 130 crores to Rs. 150 crores.

G E Shipping contracts to buy a medium range product tanker

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to buy a medium range (MR) product tanker of about 46,197 dwt on September 15, 2023. The 2008 built vessel is expected to join the company's fleet in Q3 FY24.

The company's current fleet stands at 42 vessels, comprising 28 tankers (6 crude carriers, 18 product tankers, 4 LPG carriers) and 14 dry bulk carriers aggregating 3.33 mn dwt. The company's current capacity utilization is close to 100%.

The proposed ship will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet. Post-delivery, the company will have 43 vessels aggregating 3.38 mn dwt.