State-run company Indian Oil Corporation Limited (IOCL) plans on incurring an investment of Rs. 70,000 million in new city gas distribution (CGD) projects, over and above the Rs. 200,000 million already planned for its CGD vertical. In the recently concluded eleventh CGD bidding round by Petroleum and Natural Gas Regulatory Board (PNGRB), IOCL also announced that it has secured nearly 33 per cent of the demand potential.
The company will now have presence in 26 geographical areas (GAs) and 68 districts spread across 11 states and union territories, on a standalone basis, and will also be covering nearly 20 per cent of the total CGD market potential in GAs announced recently in three bidding rounds. The company has also expanded its presence over districts that have high-demand customers across the industrial, commercial, and domestic segments for both piped natural gas and compressed natural gas.