Govt clears 36 stalled infra projects worth Rs 1.83 lakh crore; L&T's Metro Rail project among clear by greatindian on 31 August, 2013 - 08:00 AM | ||
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![]() | Govt clears 36 stalled infra projects worth Rs 1.83 lakh crore; L&T's Metro Rail project among clear on 31 August, 2013 - 08:00 AM | |
NEW DELHI: The government on Monday cleared 36 infrastructure projects worth Rs 1.83 lakhcrore that were stalled because of regulatory reasons in a bid to revive investments and perk up sentiment.The projects cleared include 18 in the power sector with investment of about Rs 85,000 crore and 18 others in sectors like Road, Railways, Petroleum and Natural Gas."Yesterday CCI (cabinet committee on investment) 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 on Tuesday.The big projects cleared by the Prime Minister Manmohan Singh headed CCI include Reliance Power's 4,000 MW ultra mega power project at Sasan in Madhya Pradesh, L&T's Metro Rail project, Hindalco IndustriesBSE -1.87 % 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 PowerBSE 0.82 %) deposits the money further, clearances will be given," Chidambaram said.Chidambaram said banks had already disbursed about Rs 30,000 crore for the power sector projects credit flow would begin once these projects start rolling. |