The Indian Oil Corporation Limited (IOCL) has received approval for investing Rs. 72.82 billion for development of city gas distribution (CGD) network across nine geographical areas (GAs). With these GAs, the company will be able to expand its presence to 26 GAs on its own, along with 23 other areas with the help of its joint venture (JV) companies. The approval for the investment amount was awarded to the company by the Petroleum and Natural Gas Regulatory Board in the 11th CGD bidding round. Moreover, the company, along with its two JV companies, is present in 49 areas and 105 districts across 21 states and union territories in the country.