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Assam Gas, OIL ink pact for piped natural gas supply to Assam, Tripura
The Assam Gas Company Limited (AGCL) and Oil India Limited (OIL) on Saturday signed an agreement for a joint venture (JV) private limited company with the mandate to lay, build and operate city natural gas distribution networks in parts of Assam and Tripura to start with.
The JV company, with the Assam government-owned AGCL having 51 per cent of share equity and OIL retaining the remaining 49 per cent, shall, 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 numerous compressed natural gas (CNG) stations.
Speaking at the ceremonial signing programme held at Janata Bhawan here, Assam chief minister Himanta Biswa Sarmaexuded confidence that the agreement between AGCL and OIL would provide a thrust to the ongoing process of industrial development in the state for the past couple of years.
The chief minister added the JV company, with an authorised share capital of Rs 5 billion and initial paid-up capital of Rs 1 billion, would prove to be a milestone in the strengthening of the state’s economy in the days to come.
Sarma further expressed hope that the JV company would support the state’s endeavour to transition towards a greener fuel-based economy, in sync with the central government’s Northeast Hydrocarbon Vision 2030.
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