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CCI clears projects worth Rs 1.9 lakh cr

NEW DELHI, August 26, 2013, DHNS:

The Cabinet Committee on Investment has given its approval for fast-track clearances to 36 stalled infrastructure projects with an investment of Rs 1.9 lakh crore. These include 28 projects in the power sector. 

Under the chairmanship of Prime Minister Manmohan Singh, the cabinet panel directed all ministries concerned to extend clearances to stalled projects within 60 days. Of the 28 power projects, 18 are held back due to issues related to fuel supply agreements.

It said 18 fuel supply agreements will be resolved by September 6. As far as the GMR’s project from Ahmedabad to Kishangarh is concerned, it is a Rs 7,700-crore highway project. The proposal can be taken up by the cabinet regarding premium rescheduling in the next week itself.

Coal Minister Sriprakash Jaiswal said seven such projects will sign fuel supply pacts with Coal India Ltd by September 7. A formal briefing of the cabinet is expected to be held on Tuesday.
 The CCI, a brainchild of Chidambaram, has already cleared several thousand crore worth of projects in the oil, gas, power and road sectors. 


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