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Amid reports of Reliance Infrastructure exiting big projects due to delay in regulatory clearances, the company said that it is awaiting nod from government agencies to commence work on some stalled projects worth Rs 20,000 crore.
“We are awaiting government clearance for some of our projects,” Reliance Infrastructure Chief Executive Officer Lalit Jalan said, adding that once the company gets the clearances, it will resume the work.
Sources said the company’s Mumbai Sea Link extension project has been held since 2009. The company is yet to start work on two private transmission projects.
The company had also exited the Rs 5,000-crore Worli Sea Link project last year.
Reliance Infrastructure has presence across the value chain of power business i.e. generation, transmission, distribution, EPC and trading.
The company is also developing projects in infrastructure sector like roads, highways, metro rails, airports and speciality real estate.
Shares of the company were trading at Rs 417.50, down 1.65 per cent on the BSE.
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