FCC

BPCL to invest in city gas distribution projects

2022-12-23

On Wednesday, Bharat Petroleum Corporation (BPCL) announced that its board of directors had approved the financial plan and capital expenditure for constructing and operating eight city gas distribution (CGD) projects, as well as for laying the piped gas network, for an estimated investment of 353,550 million.

The business is authorised to work on the projects "under PNGRB (Petroleum and Natural Gas Regulatory Board) CGD Bid Round 11 and 11A with an anticipated investment of 353,550 million in a staggered manner," according to the statement issued by BPCL with stock markets.

According to the corporation, the aforementioned initiatives would need to receive the necessary government of India statutory authority permissions. Accordingly, the business declared that it was now creating a CD network in 25 geographic areas, including the CDs mentioned above, which would span 62 districts in 14 states.

The Ministry of Petroleum and Natural Gas owns the central public sector enterprise Bharat Petroleum Corporation Limited (BPCL).

The Ministry of Petroleum and Natural Gas owns the central public sector enterprise Bharat Petroleum Corporation Limited (BPCL). It runs refineries in Mumbai, Kochi, and Bina. The ministry of petroleum and natural gas is in charge of the second-largest government-owned downstream oil producer in India, BPCL. It came in at 309 on the 2020 Fortune list of the largest public sector organisations in the world and at 792 on the 2021 Forbes list. The "Global 2000" list.