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JV to be set up for city gas distribution

Friday 18th Nov 2011 1254

Kolkata : Gail, Hindustan Petroleum (HPCL) and Greater Calcutta Gas Supply Company on Thursday signed an MoU for a joint venture for city gas distribution, which is likely to require an investment of around Rs 2,000 crore.

GAIL and HPCL will hold 37 per cent stake each, while the rest will be owned the West Bengal government-controlled Greater Calcutta Gas Supply Company, official sources said

The investment could be to the tune of Rs 2,000 crore for the project, GAIL Executive Director J Wasan said here.

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