IndianOil, HPCL among successful bidders for city gas.

Indian Oil Corporation, Hindustan Petroleum Corporation, and a consortium of LNG Marketing Pte. Ltd. and Atlantic Gulf & Pacific Company of Manila Inc have bagged nine regions each in the 10th round of bids for developing City Gas Distribution networks in the country.

A Petroleum & Natural Gas Regulatory Board (PNGRB) statement said 225 bids from 25 entities were received up to February 5. Based on the bids evaluation, the PNGRB, in its 88th Board meeting held on February 26, approved the issuance of Letters of Intent (LoI) to the 12 successful entities for 50 Geographical Areas (GAs).

Gujarat Gas Ltd has won the rights to develop six GAs, Indraprastha Gas and Torrent Gas bagged 3 regions each.

Adani Gas has won the rights to develop only two GAs in this round.

HBL