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Cabinet committee on investment to consider projects worth Rs 33,000 cr

Amid the government’s intent to fast-track infrastructure development, 14 projects worth over Rs 33,000 crore in various areas are expected to be considered by the Cabinet Committee on Investment shortly.

The projects are in the sectors of industry, petroleum and natural gas, power, road transport and highways, shipping, textiles and railways.

Out of the 14 projects, six are for Andhra Pradesh, four for Maharashtra, three for Karnataka and one for Jharkhand, sources said.

These projects, pending clearances on various counts including environment, are being put up before the CCI amidst the government’s intent to push infrastructure development to shed the perception of policy paralysis.

Prime Minister Manmohan Singh made it clear during his press conference on Friday that the government would push reforms in its remaining period while acknowledging that infrastructure bottlenecks and delays in projects clearances had influenced and contributed to the economic slowdown.

In the power sector, projects worth Rs 8,214 crore are on the agenda of CCI’s consideration. These are a 1,320 MW Bhavanapadu Thermal Power Project and a 300 MW Kaizen Power project proposed to be set up in Andhra Pradesh.

The cost of the Bhavanapadu project is Rs 6,570 crore while that of Kaizen project is Rs 1,644 crore.
Three projects worth Rs 7,400 in the industry sector are also lined up for consideration – a Pulp and Paper Project by ITC in Andhra Pradesh, a paper project of the Andhra Pradesh Paper Mills Limited, which involves FDI, and a cement plant with 4 Million Tonne Per Annum capacity in Karnataka.
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