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42 stalled projects get clearance by Modi Govt

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The central government is stepping to revive the investment climate, facilitating clearances for 42 stalled projects worth Rs 1.15 lakh crore since it presented the Budget for 2015-16.

Description:

  • In last nine months only 50 pending investment plans worth Rs 1.45 lakh crore were granted green signals through the project monitoring group (PMG) in the cabinet secretariat.
  • Highway projects account for half of the 42 projects whose pending clearances have been resolved by the PMG in the three months since the Budget.
  • Ten power generation and transmission projects with investments over Rs 72,000 crore have also got the green signal.
  • Three oil and gas projects have also got the nod, including Shell’s Rs 5,000 crore re-gasification plant in Kakinada.
  • Railway projects worth Rs 5,500 crore, including the Patna Ganga Rail-Road Bridge and a new 180 km rail line to evacuate coal from Chhattisgarh’s hinterland, are also now set for implementation with all outstanding nods secured.
  • Aditya Birla group firm Hindalco has also secured permissions for a Rs 13,200 crore aluminium smelter plant in Odisha’s Sambalpur district.

Source: ET

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