NEW DELHI: As Narendra Modi prepares to take over as the country’s 15th Prime Minister, there will be be 20 key infrastructure projects awaiting clearance from him. And the projects, worth a staggering Rs 1.2 lakh crore, belong to big names like Reliance and GMR.
A list of projects which are stuck for various clearances and policy related issues has been prepared for the decision of the new government.
The projects include Bhushan Steel’s Rs 30,000 crore integrated steel plant in Odisha that has been stuck after denotification of its captive coal block by the Coal Ministry after the alleged coal scam. Reliance Power Limited’s Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh worth Rs 25,000 crore is another important project that would require urgent decision of the new Cabinet. It is the first domestic coal-based UMPP awarded in the country.
Other projects include Akaltara Thermal Power Plant of Mahanadi Power Company Limited in Chhattisgarh, worth Rs 16,190 crore, GMR’s 1370 MW power project in Chhattisgarh worth Rs 8,290 crore and Nyamjang Chhu Hydroelectric power project in Arunachal Pradesh worth Rs 7,000 crore. It is a project on river Nyamjang Chhu in Tawang district for generation of 780 MW.
The Project Monitoring Group, which was set up by the UPA Government to fast track clearances, has sent a list of 20 such projects to the Cabinet Committee on Investment (CCI) which will be put up before the new Cabinet. Many of these projects have policy issues and need to be taken up at the Cabinet level. Since its inception in June 2013, the PMG has cleared 150 projects worth `5 lakh crore. Of these, investment has fructified in projects worth `4 lakh crore.
Policy changes include streamlining the process of granting environmental and forest clearances for the projects.
The PMG, along with the industry and the MoEF, have already worked out timelines for green clearances and the same would be implemented soon. Besides, it also looked at fixing the responsibility for delays.
A similar process would be devised for the Mining Ministry.