Adani Gets Highest Number of Indian CGD Licences
Private sector firm Adani Gas has won the highest number of city gas distribution (CGD) licences so far in the ninth CGD bidding round which was launched by the Indian government earlier this year.
Indian downstream regulator Petroleum and Natural Gas Regulatory Board (PNGRB) August 10 announced the winners of 30 more areas taking the total number of declared winners to 78. Adani Gas has emerged as the biggest winner with rights to develop CGD infrastructure for 13 areas by itself. The company also bid for licences jointly with state-owned Indian Oil Corporation. The joint venture has won licences to develop CGD infrastructure in nine areas, according to PNGRB data. Bharat Gas, a unit of state-owned BPCL has won licences for 11 area while another private sector firm Torrent Power has won licences for nine areas.
During the ninth round 86 areas covering 174 districts in 22 states and union territories were open for bidding. Technical bids were opened by PNGRB during July 12-18. A total of 406 bids were received for the 86 areas; and 35 entities participated in the process.
This round is likely to attract investments of rupees 700bn ($10bn), said PNGRB, adding that the CGD sector will play a significant role in achieving the shift towards a gas-based economy, with natural gas as the next-generation, cheaper and environment friendly fossil fuel.