CCI cleared stalled Infra Projects worth 1.83 Lakh Crore Rupees

The Cabinet Committee on Investment (CCI) on 26 August 2013 cleared 36 projects worth 1.83 lakh crore rupees in power and other infrastructure sectors which were stalled on account of regulatory hurdles. The projects were cleared to boost Investment and accelerate growth in the country.

The projects are across five key infrastructure sectors of power, roads, ports, cement and petroleum.

The projects approved by the CCI include 18 power projects with an investment of 83772 crore rupees and nine other non-power projects with a total outlay of over 14084 crore rupees.

Nine other infrastructure projects reviewed by the CCI involved an investment of over 85000 crore rupees.

The big projects that have been cleared by the CCI include Reliance Power’s 4000 MW Ultra Mega Power Project (UMPP) at Sasan in Madhya Pradesh, L&T’s Metro Rail project, Hindalco Industries’ project and Essar Power’s Jharkhand project.

GMR Kishangarg Express way, JAS Infra and Power, Utkal Alumina, Athena Chhattisgarh Power and Essar Power’s Tori-I power plant were the other projects which were reviewed.

The Cabinet Committee on Investment

The Cabinet Committee on Investment (CCI), headed by Prime Minister Manmohan Singh, was set up to fast-track clearances to infrastructure projects involving investments of over 1000 crore rupees.

The CCI also monitors investment proposals as well as projects under implementation, including stalled projects, and guides decision-making in order to remove bottlenecks and quicken the pace of implementation.