Mukesh Ambani, Gautam Adani join hands, set to reshape This Indian Sector, Reliance issues statement, says…
Mukesh Ambani and Gautam Adani (File)
New Delhi: In a major development, two of India's richest businessmen, Reliance Industries Limited Chairman Mukesh Ambani and Chairman of the Adani Group Gautam Adani, have announced a partnership in country's fuel sector. The main motive behind the collaboration is to integrate their respective fuel station networks for wider access and improved consumer offerings.
It is important to note that this is the second joint business initiative, following Reliance's acquisition of a stake in an Adani Power project in Madhya Pradesh last year. Partnership will 'redefine the auto fuel retail experience':
Both Reliance and Adani Group have said that the will 'redefine the auto fuel retail experience for Indian consumers' and help scale the availability of high-quality fuels across the country. As part of the agreement, selected fuel stations operated by Adani Total Gas Ltd (ATGL) will begin selling Jio-bp's high-performance petrol and diesel.
Meanwhile, CNG dispensing units from ATGL will be installed at Jio-bp's outlets. The agreement spans both current and upcoming stations from both companies.
ATGL, a joint venture between the Adani Group and French energy giant TotalEnergies, operates approximately 650 CNG stations and is a major player in India's city gas distribution (CGD) sector. In contrast, Jio-bp—a collaboration between Reliance Industries and UK-based BP—manages a nationwide network of around 2,000 fuel stations. Jio-bp Statement
Sarthak Behuria, Chairman of Jio-bp, said, 'We are united by a shared vision to offer our customers a superior selection of high-quality fuels. Jio-bp has always been committed to delivering an exceptional customer experience, and this partnership allows us to leverage each other's strengths to further enhance the value we provide to India.' Adani Total Gas Statement
Echoing the collaborative sentiment, Suresh P Manglani, Executive Director and CEO of Adani Total Gas, commented, 'It is our shared vision to provide a complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings.'
The business relationship between the two conglomerates first took shape last year when Reliance acquired a 26 percent stake in an Adani Power project located in Madhya Pradesh. As part of that deal, Reliance secured 500 MW of electricity from the plant for captive consumption.
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