Updated March 4th, 2024 at 20:59 IST

Petroleum Minister Puri unveils Rs. 41,000 crores Investment Plan in 12th CGD Bidding Round

This event marked a significant stride toward expanding India's natural gas infrastructure and boosting economic growth.

Reported by: Business Desk
केंद्रीय मंत्री का कांग्रेस पर निशाना | Image:PTI
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12th CGD bidding: Minister for Petroleum and Natural Gas & Housing and Urban Affairs, Hardeep Singh Puri, revealed an investment projection of Rs 41,000 Crores in the recently concluded 12th City Gas Distribution (CGD) Bidding Round. This event marked a significant stride toward expanding India's natural gas infrastructure and boosting economic growth.

Minister Puri applauded the efforts of the Ministry of Petroleum and Natural Gas, along with the Petroleum and Natural Gas Regulatory Board (PNGRB), and the successful bidders for their pivotal role in shaping a resilient oil and gas landscape. 

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The substantial investment earmarked for the 12th CGD Bidding Round is poised to become a catalyst for job creation, offering remarkable employment opportunities across various sectors, the minister added further.

The minister also highlighted the strategic importance of the bidding round, aligning with the government's commitment to promoting natural gas as a cleaner energy alternative. 

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The anticipated infusion of funds not only signifies a boost for the country's natural gas infrastructure but also aligns with broader objectives of environmental sustainability and cleaner energy adoption.

This investment plan reflects Minister Puri's visionary leadership in driving India toward a gas-based economy. The 12th CGD Bidding Round also throws light on the government's proactive measures in advancing the nation's energy landscape and contributing to sustainable development.

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Published March 4th, 2024 at 20:58 IST