The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval as under:
The North East Gas Grid project of Indradhanush Gas Grid Limited with viability Gap Funding/ Capital Grant at 60% of the estimated cost of Rs 9265 crore (Including interest during construction). Quantum of VGF would be capped at 60% of estimated project cost and would not be linked with upward capital cost variation.
· MoPNG shall identify milestones for major activities for this project and link the same for releases of capital grant of the project.
For effective monitoring of the project implementation, a Committee comprising of officials from Ministry of Petroleum < Natural Gas, Department of Expenditure, Ministry of Development of North East Region, Ministry of Environment, Forest < Natural Gas Regulatory Board (PNGRB) has also issued provisional authorization to IGGL on 14.09.2018 for the development of North-East Gas pipeline grid.