(UNI) Ashoka Buildcon Limited announces an Rs 150 crore investment commitment into its city gas distribution (CGD) business Unison Enviro Private Limited (UEPL) by Morgan Stanley India
Infrastructure (MSII).
UEPL builds and operates CGD networks across cities and towns in India.
Welcoming this investment, Ashok Katariya, Chairman of Ashoka, said “We are delighted to announce this partnership with Morgan Stanley India Infrastructure to build a nationwide city gas distribution business.
We commend the Government’s focus on increasing the share of natural gas in the overall energy mix as it is a clean and green fuel. The gas sector will see tremendous growth in the coming years and this partnership has come at the right time to take advantage of this transformational shift in India’s energy mix.”
Satish Parakh, Managing Director of Ashoka, added “Ashoka has consistently sought growth opportunities that leverage the company’s proven project execution skills. Within a short time, UEPL has already commenced operations in Ratnagiri district. This investment from MSII will allow us to expand our footprint.” Morgan Stanley India Infrastructure is the India infrastructure investing platform of Morgan Stanley Infrastructure Partners.