City gas distribution (CGP) AG&P Pratham and Think Gas will now operate under a single brand, Think Gas, with operations spread across 10 per cent of India’s landmass.
They now cover 50 districts across 10 states, serving a population of more than 180 million.
The group entities together will be the largest foreign direct investment (FDI) in Greenfield CGD business, with an investment of $1 billion over the next 8 years. The merger was announced on Wednesday.
The group entities plan on expanding its network to 24,000 inch-km of steel pipelines, creating a stronger network of over 2,000 CNG stations covering 3,24,000 square kilometres aimed to cater to the needs of more than 180 million customers.
PNGRB Chairman Anil Kumar Jain, said, “We eagerly anticipate accelerated growth with the new brand to foster an energy ecosystem that drives sustainable development that fuels India’s growth.”
Amitava Sengupta, Chairman of THINK Gas, said, “The strategic brand merger of AG&P Pratham and THINK Gas will catapult our combined brand into the major league, positioning us as a leading energy player. Under the new brand, THINK Gas, we aim to develop and establish one of the largest natural gas networks in the country.”
Abhilesh Gupta, MD & CEO of THINK Gas, stated, “Over the past five years, AG&P Pratham and THINK Gas have built a strong reputation and brand presence in their respective markets. This brand merger has paved the way for a unified identity, THINK Gas.”
THINK Gas is backed by marquee investors – I Squared Capital, OSAKA Gas, Sumitomo Corporation, Konoike Group, Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN), and AG&P Global.