Bengal decides to enter into joint venture with GAIL

The West Bengal government today decided to enter into a joint venture with the Gas Authority of India Limited to supply natural gas to every household in greater Kolkata.
Chief Minister Mamata Banerjee gave her approval to the joint venture at a meeting of the Cabinet's standing committee on industry held at the state secretariat today, state finance minister Amit Mitra said.
"It's been a long time since we are talking about city gas supply and now today the decision has been taken by the chief minister," Mitra told reporters.
He said that GCGSC, which is a 100 per cent state-owned company, will have an equity of 26 per cent while GAIL will hold 74 per cent stake for the Rs 3,000-crore project, the minister said.

The GAIL would invest for the project while the state government would provide various assets like the land and infrastructure support, he said.
The minister said that urban areas would first have the supply and thereafter it which would be supplied all over the state including the small towns.

The pricing of the gas was yet to be decided, he said.
In another important decision, the government as part of its city beautification drive has taken a decision to pass on the innumerable electrical wires, cables, telephone lines hanging overhead via underground ducts.
According to a source at the secretariat, a committee under Chief Secretary Basudeb Banerjee has been formed for the purpose.

It was also learnt that at today's meeting Chief Minister Mamata Banerjee asked her ministers to be at their respective areas during the upcoming Holi and Shiv Ratri festivals to avoid any untoward incident.