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Cabinet approves capital grant as VGF for setting up North-East Natural Gas Pipeline Grid


The Cabinet Committee on Economic Affairs has approved a capital grant as the Viability Gap Funding (VGF) to Indradhanush Gas Grid Ltd for setting up the North-East Natural Gas Pipeline Grid. This VGF would be capped at 60 per cent of the estimated cost of Rs 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,” said an official statement, as per a report.

 

Source : Exim News Service - New Delhi, Jan. 13

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