Gujarata hope: the Washington-based IFC has said it will back an expansion of the region's gas supply infrastructure to provide cheaper and cleaner energy
IFC backs Gujarat gas expansion
The Washington-based International Finance Corporation (IFC) is to provide 3.38 billion rupees and up to $30 million in equity to Gujarat State Petronet to support the expansion of natural gas transmission infrastructure in the Indian state of Gujarat.
The IFC said the funding was intended to make natural gas supplies cheaper for users by making use of the state’s own energy assets, while also cutting down on greenhouse gas emissions.
Gujarat State Petronet is India’s second-largest gas transporter and the only one that carries gas on behalf of third-party transport companies. Its network spans 1080 kilometres.