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The ninth round of City Gas Distribution (CGD) auctions in 86 cities resulted in more than 400 auctions. As the JV RIL-BP was withdrawn from last-minute auctions, the ninth and largest auction for city gas distribution licenses in 86 cities saw more than 400 bids with a potential investment of Rs 70,000 crore. The final round of the auction, which ended on July 10, witnessed the abstinence of RIL-BP combines to place bids. The Reliance-BP joint venture has abandoned the tendering process after nearly bidding for gas sales licenses in 15 cities, PTI reported, citing sources.
The government expects investments of Rs 70,000 crore from winning bidders, or four times the total of Rs 15,000-18,000 crore invested up to the year 2018.
"CRISIL s & rsquo; Expects the 9th round to receive much better response than before due to the revised call for tender standards, and the government's push through favorable policies. marketing exclusivity of 8 years (extendable 2 years, 5 years earlier), tiered rates to discourage unsustainable bids, the removal of additional tender obligations and the evaluation of bids 19659005] Here are the main bidders in the ninth round of auction for the city gas distribution license:
Adani Group: Adani Group offers for the largest number of cities for sales licenses retailing of gas Gautam Ad ani has placed the largest number of offers on 52 cities. Adani Gas has made an offer for 32 cities by itself and another 20 cities in a 50:50 joint venture with Indian Oil Corp. (IOC) -owned state, PTI reported sources.
GAIL Gas: Gas owned by the state GAIL GAIL Gas from the GAIL gas transportation company Gas bid for nearly 30 cities
IGL: Indraprastha Gas Ltd, which sells GNC in the National Capital Region, has bid for 13 cities.
Essel Infraprojects: The infrastructure arm of the Essel Group Ltd has filed a total of 7 tenders
India Gas Solutions: BP Plc 50:50 Joint Venture and Reliance Industries , which was formed for the retail sale of natural gas in India, reviewed the licenses for 15 cities but did not bid at the auction closing on Tuesday.
Details of offers from other GAIL subsidiaries, Mahanagar Gas Ltd and Gujarat State Petroleum Corp. (GSPC) remained unknown.
In the ninth round of bidding for the CGD license, as a man given that 86 geographic areas (GA) created by neighboring clubs were proposed. "The technical offers would be open between July 12 and July 18, 2018," said the Board of Regulation of Oil and Natural Gas in a statement. The PNGRB added that it would try to speed up the process of finalizing the bids that were scheduled for October.
The cities that were proposed for CGD licenses are as follows: Bhopal in Madhya Pradesh; Ahmednagar in Maharashtra; Ludhiana and Jalandhar in Punjab; Barmer, Alwar and Kota in Rajasthan; Coimbatore and Salem in Tamil Nadu; Allahabad, Faizabad, Amethi and Rai Bareli in Uttar Pradesh; Dehradun to Uttarakhand and Burdwan to West Bengal.
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