India's BPCL to invest over $200mn in two city gas projects
Indian state-owned fuel retailer BPCL will invest 16bn rupees ($210mn) over the next five years to develop city gas projects in Aurangabad and Ahmednagar districts in the state of Maharashtra, the company said March 1.
The company has officially launched the city gas distribution (CGD) networks in the two districts. BPCL won the two licences during the 9th CGD round of bidding through a wholly-owned subsidiary, Bharat Gas Resources.
During the first five years, approximately 300,000 piped natural gas (PNG) connections, 100 CNG filling stations and laying of 350 km of steel pipeline network is planned in an area of 27,178 km2 in the two districts.
BPCL has started laying steel pipelines for the development of PNG and CNG in the two districts. It has developed 21 CNG stations, 15 in Ahmednagar and six in Aurangabad, and work is in process for 40 more CNG stations to be set up in both districts.
For the industrial consumers, the connectivity in areas of Walunj and Shendre in Aurangabad and Supa in Ahmednagar is expected to be completed by September 2022, BPCL said.
The Indian government has set a vision to make India a gas-based economy. The goal is to increase the share of gas in the energy mix from the current 6% to 15% by 2030.