Shares of GAIL India Ltd. edged higher on Friday after the Karnataka Cabinet approved land allocation for the company’s upcoming compressed biogas (CBG) facility, reported Hindustan Times.
At 11:06 am, GAIL India stock was trading at ₹179.65, up 0.39%, while the benchmark Sensex rose 0.34% to 81,823.77 points.
According to Law and Parliamentary Affairs Minister H.K. Patil, GAIL will set up a 300-tonne-per-day bio-CNG plant on 18 acres at Haralakunte village in Bengaluru South. The project has provision to scale up capacity to 500 tonnes per day.
The state’s revenue department and Bengaluru Solid Waste Management Ltd. will first carry out a land survey before handing it over to the company.
Bio-CNG, a purified form of biogas with around 90% methane content, is produced from organic waste and serves as a renewable alternative to fossil fuels.
GAIL India has plans to establish 26 CBG plants, either independently or through joint ventures, with a total investment of about ₹1,300 crore. The company’s first such facility was launched in Ranchi last year, processing 150 tonnes of municipal waste daily to produce 5,000 kg of bio-CNG.
In addition, GAIL’s joint venture with TruAlt Bioenergy—Leafinti Bioenergy Ltd.—is developing 10 new plants across the country.
