BPCL to Invest ₹10,000 Cr on Gas Distribution Networks in 6 Geographical Areas
Indian Government-owned oil and gas corporation, Bharat Petroleum Corporation Limited (BPCL) has informed in its regulatory filing that it will invest ₹10,000 crores over next five years for setting up gas distribution networks in six geographical areas (GAs).
BPCL has secured new licences in the latest bidding round. It won licences to retail CNG to automobiles and piped natural gas for cooking purposes in six geographical areas bid out in latest 11th bidding round of Petroleum and Natural Gas Regulatory Board (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 crores for development of 23 GAs, including ₹10,000 crores for the 6 new GAs” BPCL said.