AGCL, OIL sign JV for piped natural gas distribution

Guwahati: The Assam Gas Company Limited (AGCL), a state government undertaking, and Oil India Limited (OIL) on Saturday signed an agreement for the establishment of a joint venture private limited company with the mandate to lay, build and operate city natural gas distribution networks in six districts of Assam and Tripura each.The JV company will build local natural gas grids across the authorised areas, set up CNG stations and provide piped natural gas to domestic and commercial establishments.AGCL will have 51% of share equity while OIL will retain the remaining 49% in the JV company, which apart from building local natural gas grids and providing piped natural gas to domestic and commercial establishments in Lakhimpur, Dhemaji, Darrang, Udalguri, Sonitpur and Biswanath Chariali and a few districts of Tripura for the time being, shall also set up CNG stations.Speaking at the agreement signing ceremony, CM Himanta Biswa Sarma said this venture will give a big push to the ongoing process of industrial development in the state.