Guwahati (Assam) [India], May 1 : The Assam Gas Company Limited (AGCL) and Oil India Limited have signed an agreement for the establishment of a joint venture company with the mandate to lay, build and operate the city natural gas distribution networks in parts of Assam and the bordering northeastern state of Tripura.
The agreement signing ceremony was held in Assam's capital Dispur on Saturday.
The joint venture company, with the government of Assam-owned AGCL having 51 per cent of the stake 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, according to a statement from Assam Chief Minister's Office.
Speaking at the event, Assam Chief Minister Himanta Biswa Sarma exuded confidence that the signing of the agreement between AGCL and OIL would provide a major thrust to the ongoing process of industrial development in the state.
Sarma further expressed hope that the joint venture company would aid in the state's endeavour to make a transition towards a greener fuel-based economy, in sync with the government of India's 'Northeast Hydrocarbon Vision 2030'.
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