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Oil India inks pact with AGCL, GGL to set up CGD Company in Assam

12 Jul 2019 Evaluate

Oil India, Assam Gas Company (AGCL) and GAIL Gas (GGL) have entered into an agreement to set up a new company for implementation of the City Gas Distribution (CGD) network in five districts of Assam.

The joint venture company will implement the CGD Network and supply piped natural gas to the domestic, commercial and industrial customers and CNG (Compressed Natural Gas) to the vehicles in Kamrup, Kamrup (Metro), Cachar, Hailakandi and Karimganj districts.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

Peers
Company Name CMP
ONGC 225.95
Oil India 449.80
Jindal Drilling&Inds 501.20
Deep Industries 674.50
Asian Energy Service 421.00
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