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The Prime Minister’s Project Monitoring Group has cleared four projects this week worth Rs 8,000 crore, two of which are from the power sector.
This is in addition to the 11 power projects cleared last week involving an investment of Rs 52,300 crore.
“The system is well-established now. We are getting new applications steadily from various ministries and individual entrepreneurs whose projects are stuck and are trying to sort out glitches through direct communication between various ministries,” a Government official involved in the process told Business Line .
The Project Monitoring Group (PMG), set up in the Cabinet Secretariat last month, is a facilitating body for stalled projects serving as a platform to bring together all ministries involved with projects not taking off. Bank funds worth an approximate Rs 7 lakh crore are locked in projects that are stuck due to various reasons.
The power projects given clearance include Mejia TPP DBC with a generating capacity of 500 MW with investments worth Rs 2,500 crore and Raghunathpur TPP DBC with a generating capacity of 600 MW with investments worth Rs 3,000 crore. Both were stuck due to non-availability of coal and have now signed coal supply agreements with Coal India Ltd.
The two other projects that were cleared were stuck due to non-clearance by the Environment Ministry. These include Bharat Petroleum Corporation’s project for installation of integrated distillation units with an investment of approximately Rs 1,419 crore and a project by Ashok Cuttack Angul Tollway at Rs 1,123 crore.
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