Proshanto Banerjee, CMD of Gail (India), and Ashok Sinha, CMD of BPCL, signed a memorandum of understanding (MoU) for floating separate joint venture companies to implement city gas projects in Kerala and Karnataka for supply of piped natural gas (PNG). This was announced in a release issued by Gail to the BSE today."Joining hands with BPCL for implementation of CNG/city gas projects in Kerala and Karnataka will strengthen our existing relationship, and will go a a long way in the successful implementation of city gas projects," Banerjee said.Gail is also planning to set up 4,00,000 tonne per annum petrochemical complex in Kochi with LNG as feed stock with an investment of about Rs 6,200 crore.Gail and BPCL have already formed two joint venture companies - Indraprastha Gas (IGL) and Central U P Gas (CUGL) - for implementing city gas projects in Delhi and Kanpur, respectively.
