Billionaire Gautam Adani’s gas retailing unit is among firms that submitted 400 bids for the 86 areas the Indian government offered in its latest auction for city-gas licenses. Adani Gas Ltd bid for 32 licenses, chief executive officer Rajeev Sharma said on Wednesday, while its joint venture with Indian Oil Corp. (IOC) bid for 20.
A unit of state gas utility GAIL India Ltd bid for “close to 30 cities,” the Press Trust of India reported, without saying where it got the information. India Gas Solutions, a joint venture between BP Plc and Reliance Industries Ltd., scrapped its plans to participate, according to PTI.
“We have got unprecedented response,” Petroleum & Natural Gas Regulatory Board Chairman D.K. Sarraf said by phone, declining to identify the bidders. “This will be a big boost to India’s effort toward increasing gas consumption.”
Evaluation of the bids in the ninth round of auctions will run from July 12 to July 18, and licenses are expected to be awarded by October, the PNGRB said Tuesday. The regulator awarded a combined 56 licenses out of 106 areas offered in previous rounds since 2009. Read More