Indian Oil to Invest Rs 7000 Cr for Development of 9 New City Gas GAs

State-owned Indian Oil Corporation Limited (IOCL), in a statement said that it has won city gas licenses for 9 out of 15 high-potential geographical areas (GAs) and plans to invest ₹ 7,000 crore for infrastructure development in these GAs.

The Petroleum and Natural Gas Regulatory Board (PNGRB) had opened bids for developing 65 GAs in the 11th round of bidding. It had received over 430 bids, including that from IOCL.

The GAs for which Indian Oil won the bidding are Jammu, Pathankot, Sikar, Jalgaon, Guntur, Tuticorin, Tirunelveli, Kanyakumari, Madurai, Dharmapuri, and Haldia. With this, on a standalone basis, Indian Oil will now have a presence in 26 GAs spread over 68 districts.