Economy

230 pending projects lock up ₹5-lakh cr investments: Official

G Naga Sridhar Hyderabad | Updated on July 25, 2014

About 60% of pending projects are in power sector

About 230 major projects involving over ₹5 lakh crore of investments are pending in various stages, according to Anil Swarup, Head of the Government’s Project Monitoring Group.

“From June last year, over 150 projects have been cleared on fast track and the Government is keen on clearing the pending projects,” he told reporters on the sidelines of a review meeting on pending projects with State Government officials and industry representatives.

About 60 per cent of pending projects are in the power sector, mainly on issues in fuel supply agreements (FSA), while infrastructure and others form the rest. “The project monitoring group (PMG) at the Centre is facilitating clearances for projects which are struck through its portal on which any project involving with cost of over ₹1,000 crore could approach the PMG with a request,” the official said.

However, as many issues were also related to State Governments, the groups is now touring three days in a week in different States to hasten clearances, Swarup said.

States’ participation

As part of the endeavour, all State governments are being encouraged to set up a similar online mechanism for clearing projects with an investment ranging from ₹100 to ₹1,000 crore and so far 13 States had put the system in place, he added.

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Published on July 25, 2014
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