Mumbai:State-run Indian Oil Corporation (IOCL) on Thursday said it has received an approval from its Board to invest Rs 7282 crore for the development of city gas distribution network in nine GAs across India. “The Board of IndianOil, at its meeting held on March 16, 2022, has accorded investment approval of Rs 7282 crore for development of city gas distribution (CGD) network in nine geographical areas (GAs) awarded to the company by PNGRB in the 11th round of CGD bidding,” the company said in a regulatory filing. With these nine GAs under Indian Oil’s fold, the company will now have its presence in 26 geographical areas on its own and in 23 through its joint venture companies. “After the 11th round of CGD bidding, Indian Oil along with its two joint venture companies is now present in 49 GAs and 105 districts spread across 21 states and Union Territories, making it one of the major CGD players in the country,” it added. UNI PSK RKM