List of delayed projects worth Rs 2.89lakh cr submitted to CCI

NEW DELHI: Concerned over delays in more than 50 projects involving investment of Rs 2.89 lakh crore, Ficci today said it has forwarded the list of these projects to the Cabinet Committee on Investment, as early approvals will stimulate growth.

"The chamber has submitted a list of over 50 delayed projects, in sectors like oil and gas, power roads and highways, mining and power holding up an investment of Rs 2.89 lakh crore, to the CCI for various inter-ministerial clearances," it said.

Once cleared, the projects will stimulate investment activity in the country and boost the country's economic growth, besides removing uncertainty surrounding these projects," it added.

The factors delaying approval of these projects include clearance related to forest, environment and pollution control, hold on acquisition as some states are still awaiting new Land Acquisition Act and nod required from the Ministry of Defence and Ministry of Home Affairs, Ficci said.

Of the total investment, power sector has a proposed investment of Rs 1.48 lakh crore, followed by metals 56,265 crore, roads and highways Rs 53,237 crore, oil and gas Rs 21,150 crore, mining Rs 8,000 crore and others Rs 1,500 crore, it added.

In terms of number, maximum numbers of projects were in roads and highways 20, followed by power 17, metal 6; oil and gas 5 and mining 4, Ficci said.

"Over the last few months, CCI has been effective in resolving inter-ministerial issues which delay implementation of the projects," the chamber said.