Bharat Petroleum Corporation Limited (BPCL) and Oil India Limited (OIL), both Maharatna Public Sector Enterprises, today formalised a joint venture agreement at the BPCL Corporate Office to establish a Joint Venture Company (JVC). The agreement was signed in the presence of Mr Sanjay Khanna, Director (Refineries) with Additional Charge of Chairman and Managing Director (CMD), BPCL, and Dr Ranjit Rath, Chairman and Managing Director, OIL.
The JVC will create a gas distribution network in Arunachal Pradesh, which includes the establishment of compressed natural gas stations and the provision of piped natural gas to domestic, commercial, and industrial consumers. This initiative aims to enhance access to clean energy and contribute to the socio-economic development of the state, in alignment with the Government’s vision of fostering a gas-based economy.