OIL, AGCL to form joint-venture for piped natural gas distribution
The Assam Gas Company Limited (AGCL) and Oil India Limited (OIL) on Saturday signed an agreement for the establishment of a joint venture company to lay, build and operate city natural gas distribution networks in parts of Assam and Tripura.
The agreement was signed between the two sides at a ceremony here in the presence of Assam Chief Minister Himanta Biswa Sarma, an official statement said.
The Assam government-owned AGCL will have 51 per cent stake, while the OIL will hold the remaining 49 per cent share in the joint venture company.
