Non-binding MoU with Mahanagar Gas to explore CBG projects in Maharashtra and Karnataka
Organic Recycling Systems Ltd has signed a Memorandum of Understanding with Mahanagar Gas Limited (MGL) to explore opportunities in the Compressed Biogas (CBG) value chain in Maharashtra and Karnataka.
By ScoutQuest · · 1 min read
- MoU scope
- explore opportunities in the Compressed Biogas (CBG) value chain in Maharashtra and Karnataka
- Binding status
- The MoU is non-binding
- Partner market cap
- MGL is a listed entity with an approximate market capitalisation of ₹10,000 crore
An agreement to explore, not to build
Organic Recycling Systems Ltd has entered into a Memorandum of Understanding with Mahanagar Gas Limited (MGL) to explore potential opportunities in the Compressed Biogas (CBG) value chain in the states of Maharashtra and Karnataka. The update describes the MoU as a framework for evaluating potential CBG projects, including feasibility assessments and potential offtake arrangements.
What the understanding covers
- Evaluation of CBG projects using agricultural waste, OFMSW and other organic feedstocks
- Feasibility and techno-commercial assessment
- Project development
- Potential CBG offtake
Terms worth noting
- The MoU is non-binding in nature.
- No consideration or definitive investment commitment is specified under it.
- Any future EPC contract or other commercial arrangement is subject to feasibility studies, due diligence, mutual agreement, requisite approvals and definitive agreements, wherever applicable.
- The agreement is domestic, and no share exchange ratio applies.
- The acquisition does not fall within related party transactions, and the promoter / promoter group / group companies have no interest in the entity.
Who the partner is
Mahanagar Gas Limited is a listed entity with an approximate market capitalisation of ₹10,000 crore.
Stated rationale
The company says the aim is to leverage ORSL's organic waste processing and CBG project development capabilities together with MGL's city gas distribution expertise, to explore commercially viable CBG projects and potential offtake opportunities.
How a reader can frame it
The announcement sets out an intent to evaluate projects together. The commercial shape of any such project would follow only if and when definitive agreements are executed, so what exists today is a framework for evaluation rather than a committed order, contract or investment.
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More numbers
- Approximate market capitalisation of MGL₹10,000 crore
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