IGGL to work on all fronts to surpass targets

Indradhanush Gas Grid Limited (IGGL), a joint venture of five Oil & Gas PSUs--- IOCL, ONGC, GAIL, OIL and NRL will deploy resources on all fronts in the coming working season to surpass the targets.

Atindra Roychoudhury, Chairman, IGGL in his address to the shareholders recently informed that the Company achieved a capital expenditure of Rs. 1556.46 Crore in FY 2021-22 and physical progress of 42.94% till 31st March 2022.

To date, the Company has achieved physical progress of 53.20 percent out of the scheduled 53.29% and the project is scheduled to be completed by March 2024.

IGGL is implementing the North East Gas Grid (NEGG) project connecting the capital cities and major demand centres of the North Eastern part of India to build a gas-based economy in the region. The NEGG is implemented as per the Hydrocarbon Vision 2030 of the North East.

He said the project is now at its most critical phase and would like to assure you that we will remain resolute in our efforts to achieve its culmination on at the earliest.

"I am optimistic that with the implementation of this project there will be a notable spurt in industrial growth in the North-Eastern region which will accrue socio-economic benefits to the entire NE region" Roychoudhury said.

"Crossing the critical milestone of 50 percent physical progress by July this year, the percentage of physical progress is now neck-to-neck with the scheduled progress. Another giant leap in progress is planned in the coming working season when IGGL shall deploy resources oin all fronts to surpass targets" the annual report said.

FUTURE INITIATIVES- Its future initiatives are expansion in Arunachal Pradesh by around 50 kms and in Meghalaya by around 341 kms. Its other future plans are expansion to Myanmar by around 731 kms and Bangladesh by around 78 kms. It will conduct a green hydrogen compatibilty study too.

Indradhanush Gas Grid Limited (IGGL) was incorporated on August 10, 2018, as a Joint Venture Company of Indian Oil Corporation Limited (IOCL), Oil and Natural Gas Corporation on Limited (ONGC), GAIL (India) Limited (GAIL), Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL).

IGGL is implementing the North East Gas Grid (NEGG) project, which is 1656 Km long natural gas pipeline grid spanning across all the eight North Eastern states, at an estimated cost of Rs 9,265 Crore.

The pipeline will traverse through challenging terrains of the North East and would connect Guwahati to capital cities/ major cities of the region like Itanagar, Dimapur, Kohima, Imphal, Aizwal, Agartala, Shillong, Silchar, Gangtok, and Numaligarh.

Cabinet Committee on Economic Affairs (CCEA) has already approved the Viability Gap Funding/ Capital Grant of Rs 5,559 Crore (60% of the estimated total cost of the Project i.e., Rs 9,265 Crore) for the NEGG project. Rs 850 Crore was received in FY 2021-22 (Rs 180 Crore received in FY 2020-21).

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