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Bharat Petroleum To Invest ₹ 353.55 billion In Piped Gas Network In 8 Cities
Bharat Petroleum Corporation (BPCL) on Wednesday said its board of directors had approved the financial plan and capital expenditure for laying the piped gas network, and building and operating of eight city gas distribution (CGD) projects for an estimated investment of ₹ 353.55 billion.
According to the statement shared by BPCL with stock exchanges, the company is authorised to undertake the projects “under PNGRB (Petroleum and Natural Gas Regulatory Board) CGD Bid Round 11 and 11A with an estimated investment of ₹ 353.55 billion in a phased manner”.
The said projects would be subject to the requisite approvals of statutory authorities of government of India, the company said. Accordingly, the company said it was now developing CGD network in 25 geographical areas including the above CGDs, covering 62 districts in 14 states.
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