OIL & GAS

Cabinet approves Rs 5,559 crore VGF funding for 1,600 Km Indradhanush gas grid project

The Union cabinet on Wednesday approved a proposal to provide Rs 5,559 crore as Viability Gas Funding (VGF) for the 1,600 kilometer (Km) Indradhanush gas grid project which will provide natural gas to eight north-eastern states of Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim.

Indradhanush Gas Grid Limited (IGGL), formed to implement the project is a joint venture (JV) company of government-owned Indian Oil (IOC), GAIL, Oil India and Numaligarh Refinery (NRL). The total cost of the project is estimated to be around Rs 9,265 crore.

According to IGGL, the proposed gas grid project is expected to be connected to the national gas grid through Barauni-Guwahati gas pipeline, part of the Urja-Ganga scheme. Read More

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