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Bengal decides to enter into joint venture with GAIL

Updated: April 5, 2017 11:20 am

West Bengal government today decided to enter into a joint venture with the Gas Authority of India Limited to supply natural gas to every household in greater Kolkata. Chief Minister Mamata Banerjee gave her approval to the joint venture at a meeting of the Cabinet’s standing committee on industry held at the state secretariat recently, state finance minister Amit Mitra said. “It’s been a long time since we are talking about city gas supply and now the decision has been taken by the chief minister,” Mitra told reporters. He said that GCGSC, which is a 100 per cent state-¬owned company, will have an equity of 26 per cent while GAIL will hold 74 per cent stake for the Rs 3,000¬ crore project, the minister said.

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