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Indian govt agrees to fund GAIL’s gas pipeline project

Acceding to the demands of gas logistics and transportation major GAIL India Limited, the Indian government has agreed to the funding of $1.82-billion for the construction of a 2 539 km gas pipeline traversing the northern and eastern Indian provinces. GAIL, which had initially been apprehensive over the offtake of gas from its planned network and the viability of its investment, would now be able to achieve financial closure  and bring gas to at least three defunct fertiliser plants, noted an official in the Oil and Natural Gas Ministry, who added that the blueprints for the revival of these plants were already ready and approved.