Duliajan: The Ministry of Petroleum and Natural Gas under the Government of India has recently approved the retail sale of Automobile Fuel by the Assam Gas Company Limited. Assam Gas Company Limited, a for-profit company under the Government of Assam, has achieved great success in the natural gas transport business mainly through pipelines
India will set up 120 retail outlets in five northeastern states, including Assam, Manipur, Meghalaya, Arunachal Pradesh, and Nagaland
The total cost of setting up the stations will be Rs. 540 crore. Assam Gas Company Limited is the only enterprise in Assam to be approved for retail marketing of fuel along with 6 other enterprises in India, consisting of Reliance Industries Limited, a subsidiary of Mukesh Ambani-owned Reliance BP Mobility Limited, Chennai-based Indian Malaches Company (IMC), Onsite Energy Pvt Ltd, MK Agrotech Pvt Ltd, RBML Solution India Ltd (RSIL)- a thriving company like Assam Gas Company and with large capitalist enterprises like Manas Agro Industries and Infrastructure Limited, has been transferred to the Ministry of Petroleum, Government of India.
The Ministry of Petroleum has approved companies with a turnover of at least Rs 250 crore per annum. As per Rule 9 of 20, such entities approved by the Government of India are required to set up 100 fuel retail outlets (outlets) within 5 years, out of which, five percent of this should be in rural areas. Undoubtedly, the addition of this success will pave the way for the commercial transition of Assam Gas Company and boost its economy with further revenue generation.
FIRST Business Portal addressing the potential of business capability of North East Region.
