Cabinet Committee on Investment, tomorrow, is likely to approve the proposal for allowing fast-track security clearance to port projects and review the progress of highway projects in the country.
“CCI may approve security clearance for the seaports,” a source close to the development said, adding that the progress of the road projects may also be reviewed and target set for the current fiscal.
Earlier this year, the government unveiled new norms under which security clearances granted to a company would be valid for three years.
Under the norms, it is mandatory for the company to inform the Shipping Ministry about any changes in the management control and more than 10 per cent change in the shareholding by any shareholder within two weeks.
The government plans to increase the country’s port capacity to three billion tonnes from the present one billion tonnes.
This would involve an investment of Rs 3 lakh crore by 2020, according to the Ministry’s maritime agenda for 2020.
Road Ministry, on the other hand, has fixed a target of giving 9,000 km of projects in 2013-14. According to the plans more than 50 per cent of the projects will be taken up on Engineering Procurement Construction (EPC) model.
In the year 2011-12, the road sector’s performance was abysmal as award of projects declined to 1,933 kms from the targeted 9,500 km.
Road Ministry is also hopeful of completing 4,500 km of road length during the current year.