Indian Oil Corporation, Adani Total Gas top bidders for city gas licenses
State-owned Indian Oil Company (IOC) and a joint enterprise of billionaire Gautam Adani’s gas arm and Total of France — Adani Total Fuel Ltd — have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to homes in the newest city gas bidding round.
IOC bid for 53 out of 61 geographical spots or Fuel that been given bids in the 11th city gas licensing round that shut on December 15, in accordance to bid details manufactured public by the sector regulator — Petroleum and Normal Fuel Regulatory Board (PNGRB).
Adani Total Fuel Ltd bid for 52 Fuel.
Adani group experienced initially ventured into city gas organization in a joint enterprise with IOC but it later on tied up with Total. Adani and IOC did not place any mixed bid in the newest bidding round.
PNGRB experienced bid out 65 Fuel which include Jammu, Nagpur, Pathankot and Madurai in the newest licensing round. Four Fuel in Chhattisgarh did not acquire a solitary bid.
I Squared Funds-backed Think Fuel Distribution Pvt Ltd was the third greatest bidder as it place in delivers for forty four Fuel. Privatisation-bound Bharat Petroleum Company Ltd (BPCL) place in bids for forty three Fuel when GAIL Fuel Ltd — the city gas arm of state gas utility GAIL India Ltd — bid for 30 spots.
Hindustan Petroleum Company Ltd (HPCL) bid for 37 Fuel and Torrent Fuel for 28. Indraprastha Fuel Ltd – the organization that retails CNG in the national cash and adjoining spots, bid for 15 Fuel, Gujarat Fuel for 14 and Assam Fuel for ten Fuel.
The GA manufactured up of Baloda Bazar, Gariyaband and Raipur districts in Chhattisgarh have been the most sought following license with 16 bidders in fray. Nagpur been given 15 bids when Jammu received 13 bids.
PNGRB experienced last 7 days mentioned that as much as Rs 80,000 crore expense is envisaged in location up city gas infrastructure in the 61 Fuel.
The 65 Fuel made available in the 11th bid round are unfold around 215 districts in 19 states and one Union territory masking 26 per cent of India’s populace and 33 per cent of its region.
Presently, there are 228 geographical spots authorised by PNGRB in 27 states and UTs masking roughly 53 per cent of the country’s geographical region and 70 per cent of its populace.
In the last city gas distribution (CGD) bidding round – the tenth CGD bidding round, fifty Fuel have been authorised for the growth of CGD network.
In the current round, 215 districts clubbed into 65 Fuel are becoming made available. Bids have been been given for 61 Fuel, in accordance to PNGRB.
Through 2018 and 2019, PNGRB gave out licenses to retail CNG to automobiles and piped cooking gas to residence kitchens in 136 Fuel. This extended protection of the city gas network to 406 districts and all over 70 per cent of the country’s populace.
The push for city gas growth is part of the government’s program for increasing the share of organic gas in the country’s electrical power basket to 15 per cent by 2030 from the present six.3 per cent.
When 86 Fuel, manufactured up of 174 districts, have been made available for bidding in the 9th round that concluded in August 2018, fifty Fuel, comprising 124 districts, have been made available in the tenth round in 2019.
(Only the headline and photo of this report might have been reworked by the Business enterprise Regular staff the relaxation of the content material is vehicle-generated from a syndicated feed.)
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