City Gas Distribution: Over 430 Bids Received Against 61 Geographical Areas For 11th CGD Bidding Round

The Peroleum and Natural Gas Regulatory Board (PNGRB) has received more than 430 bids for the 11th city gas distribution (CGD) bidding round.

The 11th CGD bidding round for 65 geographical areas (GAs) spread over 215 districts in 19 states and on Union Territory was launched on 17 September this year and the last date for bid submission was 15 December.

"This round attracted an overwhelming response from investors with more than 430 bids against 61 GAs with no single bid in these GAs. The technical bids would be opened between December 17 to 22," PNGRB said.

"This initiative would help in creating a robust CGD infrastructure and play a significant role in transforming to a gas-based economy. This would bring investment of more than Rs 80,000 crore and generate employment," the oil and gas regulator said.

Currently, there are 228 geographical areas authorised by PNGRB in 27 states and UTs covering around 53 per cent of the country's geographical area and 70 per cent of its population, reports Economic Times.