Rudra Gas Enterprise to Enter Tripartite Agreement with GAIL and Gujarat Gas for CBG Supply
Rudra Gas Enterprise Limited announced that the company has resolved to enter into a Tripartite Agreement with GAIL (India) Limited and Gujarat Gas Limited. This strategic agreement is set to govern a major business transaction involving the three parties.The company noted that the Tripartite Agreement and associated Term Sheets are currently in the pre-operative stage. Representatives from the involved parties are actively engaged in finalizing the definitive terms and conditions that will govern the execution and operationalization of the transaction.
In terms of commercial details, Rudra Gas Enterprise Limited has been awarded a Contract for Long Term Supply of Compressed Bio Gas (CBG) to the Retail outlets of Gujarat Gas Limited. This contract involves both Gujarat Gas Limited and GAIL (India) Limited as the entities awarding the order.
The details of the contract are presented below:
| Particulars | Details |
|---|---|
| Contract Awarding Entities | 1. Gujarat Gas Limited 2. Gail (India) Limited |
| Contract Type | Long Term Supply of Compressed Bio Gas (CBG) to Retail outlets of Gujarat Gas Limited |
| Delivery Mode | Through its own carriers, through the pipeline network, or through Compression-Transportation-Decompression arrangement in the Gujarat Gas pipeline |
| Tenure | Valid for a period up to 31.12.2047 |
| Commercial Consideration | Monthly Billing of Appx 1.25 Crore as per present pricing of work order |
| Shareholding/Interest | NIL |
Stock Price Movement
As of 13:54, Rudra Gas Enterprise Ltd shares are slipping, currently trading at ₹90.00, marking a decline of 1.73% for the day. The stock showed a wide intraday trading range, having fluctuated between a low of ₹87.10 and a high of ₹90.99.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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