• HPCL to invest Rs 12 billion in city gas distribution business

    Hindustan Petroleum Corp. Ltd (HPCL) plans to invest Rs 12 billion in city gas distribution (CGD) to expand network and build infrastructure, a company official said.“We would be investing Rs 12 billion in the next three to five years in various city gas distribution networks that we have. We are bullish on this segment and plan to expand our reach to more cities than we are in now,” the official said on condition of anonymity.

    HPCL has three city gas distribution joint ventures: Aavantika Gas Ltd, Bhagyanagar Gas Ltd and Godavari Gas Ltd.Aavantika Gas, its joint venture with GAIL (India) Ltd in Madhya Pradesh, supplies piped natural gas (PNG) to consumers in domestic, industrial and commercial sectors and compressed natural gas (CNG) for automobiles in Indore, Ujjain and Gwalior. Jim Otto Authentic Jersey

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