BPCL to invest ₹10,000 crore in six new city gas networks
The Hindu
Total committed CGD investment now stands at ₹22,000 cr.
Bharat Petroleum Corporation Limited (BPCL) on Tuesday said it will invest ₹10,000 crore over the next five years in setting up city gas distribution networks in the cities for which it secured licences in the latest bidding round.
BPCL won licences to retail CNG to automobiles and supply piped natural gas for cooking purposes in six geographical areas or GAs bid out in the latest 11th bidding round of PNGRB.
“After announcement of results of bidding, BPCL’s committed investment in city gas distribution (CGD) network, on a standalone basis, would increase to over ₹22,000 crore for development of 23 GAs, including ₹10,000 crore for the six new GAs,” BPCL said in a stock exchange filing.
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