West Bengal government has decided to enter into a joint venture (JV) with the Gas Authority of India (GAIL) to supply natural gas to every household in greater Kolkata. The Chief Minister gave her approval to the JV at a meeting of the Cabinets standing committee on industry held at the state secretariat on February 21, 2017.
GCGSC, which is a 100 percent state-owned company, will have equity of 26 percent while GAIL will hold 74 percent stake for the Rs 3,000-crore project. GAIL would invest for the project while the state government would provide various assets like the land and infrastructure support.
GAIL (India) is Indias principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.