Gail India and Indian Oil Corporation (IOC) have entered into an understanding for formation of a joint venture company for city gas distribution projects in West Bengal. According to a release issued by Gail to the BSE today, an MoU was inked on April 11, 2007 by A K Purwah, director (business development) of the company and B M Bansal, director (planning & business development), Indian Oil."This will be the second joint venture of the company and Indian Oil for city gas distribution projects in India. The first JV, Green Gas (GGL), is already operational in Lucknow and Agra, and is planning to expand to other cities of western UP," the release added.
