India opens biggest CGD round, expects investments to the tune of Rs 800 bn

The round is also aimed at achieving the Prime Minister's target of achieving piped cooking gas connection in 10 million houses by 2020

The government has launched its biggest city gas licensing round on Tuesday offering 86 geographical areas covering 174 districts, that may see an investment to the tune of around Rs 600-800 billion. 

"In each of these 86 areas on offer, covering 22 states, we see an approximate investment of Rs 7-10 billion in a span of eight years," Pradhan said addressing a roadshow by the Petroleum and Natural Gas Regulatory Board (PNGRB). According to industry estimates, through the current round of bidding, CGD volumes in India is likely to double from 25 million metric standard cubic meters per day (mmscmd)