The Union government on August 26 cleared Rs 1 lakh crore infrastructure projects which include projects under shipping and ports sector. The Prime Minister Manmohan Singh headed Cabinet Committee on Investment (CCI) has also asked the departments concerned to remove the bottlenecks for the projects within a month.
The government’s move is aimed at implementing the big ticket projects in power, steel, coal, shipping and ports sector that are currently stranded, and for which, banks have already sanctioned over Rs 4 lakh crore in credit. Leading the pack are 15 projects in the power sector for, which the CCI had sought that Coal India should sign fuel supply agreements (FSAs) by September 30 with these plants to produce an additional 13,530 mw electricity.
On a proposal of the Department of Financial Services (DFS), the CCI decided infrastructure projects. The CCI also asked the Mines Ministry to coordinate with the Andhra Pradesh government in ensuring permission for quarrying for L&T’s Metro Rail project in Hyderabad by September 30.
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