GSPC, ONGC among CCI nod for Rs, 7,947cr projects.

The Cabinet Committee on Investments (CCI) has cleared the way for oil sector plans aggregating Rs. 7,947 crore investment, including Gujarat State Petroleum Corporation's plan to set up a liquid gas import terminal and ONGC's Assam field revival plan, oil minister M Veerappa Moily said.

GSPC's project entails an investment of Rs. 5,200 crore in a 5-million tonne gas import terminal, with provision to ramp up the capacity to 10 million tonne. Reliance-BP and Adani group are in race for taking stake in the project.

ONGC's Assam renewal project involves an investment of Rs. 2,379 crore and was held up in the absence of environmental clearance. The project seeks to upgrade the existing infrastructure to improve production.

Times Of India