Team News Riveting
Mumbai, January 25
The Bharat Petroleum Corporation Limited (BPCL) has emerged as the successful bidder in 6 Geographical Areas (GA) in 19 districts, for setting up City Gas Distribution (CGD) Networks.
“In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 15, we hereby inform you that BPCL has emerged as the successful bidder in 6 Geographical Areas (GA) in 19 districts, for setting up City Gas Distribution (CGD) Networks, post evaluation of technical and financial bids, in the recently concluded 11th bidding round of PNGRB,” BPCL said in a regulatory filing today.
The CGD footprints of BPCL, along with its JVs, will now extend to 48 GAs covering 94 Districts in 18 States, across India. Currently, with presence in 63 districts, including prominent cities, BPCL along with its JVs together hold 33 per cent Market Share in the CGD sector in the Country.
After announcement of results of bidding, BPCL’s committed investment in CGD network, on a standalone basis, would increase to over Rs 22,000 crore for development of 23 GAs, including Rs I0000 crore for the 6 new GAs.
