60 pc of IGGL would be funded by Centre: Patowary

The CCEA has approved Viability Gap Funding (VGF) at 60 per cent of the estimated cost of Rs 9,265 crore for setting up of the 1,656-Km Indradhanush Gas Grid Limited (IGGL) in the North East region, Assam Industries Minister Chandra Mohan Patowary said on Friday.

He told a press conference here that the rest Rs 3,706 crore shall be funded by five oil-sector public sector undertakings - IOCL, ONGC, GAIL, OIL and NRL.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi on January 8 had approved Viability Gap Funding/ Capital Grant of 60 per cent for the IGGL project.

He said that IGGL is a joint venture company of the five Central Public Sector Enterprises incorporated on August 10 last year to develop and operate the natural gas pipeline grid in North-East region,