OIL & GAS

CCEA approves ₹5,559-cr VGF for North-East gas grid project

The Cabinet Committee on Economic Affairs has approved a Capital Grant as the Viability Gap Funding to Indradhanush Gas Grid Ltd for setting up the North East Natural Gas Pipeline Grid.

This viability gap funding would be capped at 60 per cent of the estimated cost of ₹9,265 crore (including interest during construction) for the project. “The quantum of VGF would be capped at 60 per cent of the estimated project cost and would not be linked with upward capital cost variation,” an official statement said.

Source
The Hindu Businessline
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