Ninth city gas distribution bidding may fetch Rs 700 billion, says report

On offer are 86 geographical areas in 174 districts covering 29 per cent of the population, compared with a cumulative 56 geographical areas awarded in the previous eight rounds in the past 10 years

The ninth round of the city gas distribution (CGD) licences auction, beginning this week, may see funds worth Rs 700 billion from winning bidders, which is four times the cumulative Rs 150-180 billion invested till fiscal year 2018, said a report. “The ninth round of auction of city gas distribution licences is set to alter the industry landscape with the government expecting investments of Rs 700 billion from winning bidders, or four times more than what was invested so far," Crisil said on Monday. On offer are 86 geographical areas in 174 districts covering 29 per cent of the population,