The Hindu : Karnataka / Bangalore News : Prime Minister thanked for ONGC project in State

Online edition of India's National Newspaper
Tuesday, Jul 26, 2005

Karnataka

Karnataka - Bangalore

Prime Minister thanked for ONGC project in State

Special Correspondent

It is one of the biggest investments in the State in recent years, says Chief Minister

BANGALORE: The Chief Minister, N. Dharam Singh, on behalf of the members of the two Houses of the Legislature and the people of the State has thanked the Prime Minister, Manmohan Singh, for approving the Rs. 25,000-crore ONGC petrochemical and power project.

Intervening during the discussion on the demand for grants of various departments in the Legislative Assembly on Monday, the Chief Minister said the Prime Minister has been magnanimous in approving the project for the State. It is one of the biggest investments in the State in recent years.

Mr. Dharam Singh had approached the Prime Minister several times seeking approval for the project which had been stalled on the ground that the ONGC should restrict its investments in areas where it had core competence.

ONGC projects

The Chief Minister said the ONGC projects in Mangalore included a Rs. 8,000-crore 1,500 mw gas-based power project, a petrochemicals complex, a Rs. 945-crore gas pipeline to link Mangalore with Chennai via Hassan and Bangalore and a Special Economic Zone. The Prime Minister has also granted approval to the ONGC to raise funds from the capital market.

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