NEW DELHI, Aug 27: In a bid to ramp up investor sentiments, the Government has cleared 36 projects worth Rs 1.83 lakh crore in power and other infrastructure sectors which were stalled on account of regulatory hurdles, Finance Minister P Chidambaram said today.
The projects cleared across various infrastructure sectors include 18 in the power sector, entailing Rs 83,773 crore investment besides 18 others in sectors like Road, Railways, Petroleum and Natural Gas.
“Yesterday CCI met to look at a large number of projects. It cleared projects with a total outlay of Rs 1.83 lakh crore … Message that we are sending, we are very keen to get investment cycle restarted. The cycle has started and we are pushing it further,” Chidambaram told reporters.
Chidambaram said apart from power sector projects, where fuel supply agreements (FSAs) will now be signed by September 6 instead of earlier deadline of August 31, there are nine projects with a total outlay of over Rs 14,084 crore, where the banks have disbursed Rs 1,484 crore.
“There are no issues related to nine projects that are pending. All of them have been resolved. Only action taken reports are required to be sent from time to time to be placed before the CCEA by concerned ministries,” he said.
Another nine projects reviewed by the CCI involved an investment of over Rs 85,000 crore.
The Finance Minister further said that banks have already disbursed as much as Rs 30,000 crore for the power sector projects and with clearances in place they would provide more funds for these projects.
On land acquisition problems, one of the major causes of delays in projects, Chidambaram said, “After the Food Bill, the one listed is Land Bill. Now that the (Food) Bill is passed, the next item on the list will be Land Acquisition Bill.”
The projects that have been cleared by the CCI include Reliance Power’s 4,000 MW ultra mega power project at Sasan in Madhya Pradesh, L&T’s Metro Rail project, Hindalco Industries project and Essar Power’s Jharkhand project.
“In the Sasan project, Stage-I clearance or preliminary approvals have been given. When this is verified by the state of Madhya Pradesh and the promoter (Reliance Power) deposits the money further, clearances will be given,” Chidambaram said.
He said that all the necessary approvals for the L&T Metro Rail project have been granted and the Ministry of Urban Development Ministry has said the project is proceeding as per schedule.
One project of Hindalco Industries will come up before the SEZ (Special Economic Zone) approval Board on August 30 for final decision, he said.
The Minister said that ‘Jaiprakash Power Madhya Pradesh’, which is setting up a power plant in MP is yet to identify the land for compensatory afforestation and the Centre has conveyed it to the developer to get the job done so that further approvals can be granted.
GMR’s Kishangarh-Udaipur-Ahmedabad project will be brought to the Cabinet by September 15.
As far as the Utkal Alumina plant in Odisha is concerned, there is only one issue which is that the water for the project should be drawn from the Hirakund reservoir.
“Ministry of Water Resources has written more than once to the Odisha government but there is no response. The Minister of Water Resources has been advised to meet the Chief Minister of Odisha to find out why the State Government is not taking any decision on the matter,” Chidambaram said.
The matter of Essar Power Jharkhand’s 1,800 MW thermal plant is likely to be resolved by September 20, the Minister added. (PTI)
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