IndianOil, Uttarakhand govt to jointly bid for gas distribution

The Indian Oil Corporation (IOC) has signed a memorandum of understanding (MoU) with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIDCUL) and the Uttarakhand government for the development of natural gas infrastructure and make joint bids for gas distribution.

The MOU was signed by Additional Chief Secretary Rakesh Sharma, Managing Director, SIDCUL, Shailesh Bhagoli, and Indian Oil Executive Director AK Marchanda in the presence of Chief Minister Vijay Bahuguna here last evening.

IOC and state government will jointly make schemes for infrastructural development of natural gas and innovation in power.

Speaking on the occasion, Bahuguna said that investment was essential for development in the state. He said there was need to concentrate on the power sector for industrial development. He expressed hope the MoU would also encourage social and economic development in the state.

The chief minister also talked to the IOC Chairman RS Butola over the phone and urged him to set up a liquefied petroleum gas bottling plant in the state.