CCI clears 18 power projects worth Rs 83,772 crore - The New Indian Express

CCI clears 18 power projects worth Rs 83,772 crore

Published: 27th August 2013 10:28 AM

Last Updated: 27th August 2013 03:48 PM

Keen to get the investment cycle re-started, the Cabinet Committee on Investment (CCI) has cleared three dozen projects envisaging an investment of Rs 1.83 lakh crore, Finance Minister P Chidambaram said on Tuesday.

The projects approved by the CCI on Monday include 18 power projects with an investment of Rs 83,772 crore and nine other infrastructure projects with a total outlay of over Rs 14,084 crore, he told reporters.

Another nine projects reviewed by the CCI involved an investment of over Rs 85,000 crore.

The CCI, Chidambaram said, "cleared projects with a total outlay of Rs 1.83 lakh crore".

As regards the fuel supply agreements (FSA) for the power projects, the Minister said all the FSAs would be signed by September 6. The earlier deadline of signing the FSA was August 31.

The message of these decisions, Chidambaram said, was to re-start the investment cycle.

"Message that we are sending, we are very keen to get investment cycle restarted. ...the cycle has started and we are pushing it further," he said.

The 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.


Read more:

CAD may drop to $70 billion this fiscal, says Rangarajan

What's dragging rupee down: Speculation or economics?

Steps to attract inflows likely in a week: Finance Ministry

Growth likely to pick up after the first quarter: Chidambaram  

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


Recent Activity

Pinterest Google Plus Twitter Facebook tumblr RSS Mobile Site apple Newshunt