BPCL board approves investment worth Rs 35,355 cr for operating 8 CGDs

New Delhi: State-owned Bharat Petroleum Corporation Limited (BPCL) stated in a mandatory filing on Wednesday that "the Board at the meeting held on December 20 which was continued till December 21 has approved the financial plan and capital expenditure for laying the piped gas network, building, and operating of eight City Gas Distribution (CGD) Projects authorised to BPCL under PNGRB CGD Bid Round 11 and 11A with an estimated investment of Rs 35,355 crore in a phased manner."

The said projects would be subject to the requisite approvals of statutory authorities of the central government, it added.

The company also stated in the regulatory filing that it is now developing CGD network in 25 geographical areas including the above CGDs, covering 62 districts in 14 states.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)