ONGC to invest Rs 5661 crore for various projects

Agartala, Apr 12: The ONGC has decided to invest Rs 5661 crore in Tripura for its various proposed projects including setting up of a 740 MW gas-based power project in South District.

According to an ONGC release here today, the amount was approved in its 165th meeting on April 10 for the 740 MW gas-based power project at Palatana under Udaipur sub-division of south district and augmentation of gas production to feed the power plant.

About Rs 1817 crores would be invested to raise the production of gas from 1.45 mmscmd to 4.5 mmscmd as Palatan power project requires about three million standard cubic metre per day (mmscmd) of gas, the release stated.

The ONGC also approved Rs 3844 crore for implementation of Integrated power Generation and Transmission projects in the state.

However, in the overall investment of Rs 3844 crore towards the Integrated Power Generation and Transmission project with a debt Equity ratio of 70:30 ONGC's investment works out to be Rs 576 crore.

The upstream and downstream activities would be progressively accelerated and the proposed gas based power plant is expected to commission by 2010.

The integrated project would enable ONGC to harness its gas potential in the North Eastern states through 'Gas-to-Wire' concept, catalysing significant development in the entire region.

The power project at Palatana and the associated Transmission network to carry power to Bongaigaon in Asom, about 640 km from here would be done by OGGC Tripura Power Company (OTPC). Tenders for the proposed power project had already been invited.

Prime Minister Manmohan Singh had laid the foundation stone of the Palatana project in 2005.

UNI