The Ministry of Tourism, Government of India has signed Bilateral Agreements/Memoranda of Understanding (MoU) with 47 countries, a tripartite agreement between India, Brazil and South Africa (IBSA) and a multilateral agreement between India and Member States of Association of South East Asian Nations (ASEAN) for tourism cooperation, interalia, aiming at destination development, management, promotion, marketing and capacity building. During the last three years and the current year the Ministry of Tourism has signed the following Agreements/ MoUs:
Malaysia (MOU) 27.10.2010
ASEAN (MOU) 12.01.2012
Mauritius(MOU) 21.03.2013
Signing of Agreements/ MoUs on cooperation in the field of tourism is an ongoing process. The Ministry regularly takes up the issue of signing of Agreements and MoU’s with the important source markets to enhance mutual cooperation in the field of Tourism.
This information was given by the Minister of State for Tourism (I/C) Dr. K. Chiranjeevi in a written reply in the Lok Sabha today.
Success in my Habit
Monday, September 2, 2013
Saturday, August 31, 2013
AP set to become major sea, air logistics hub
New Delhi: The proposal to set up the port, with an initial capacity of six berths in Prakasam district, has been already placed before the Union Cabinet — the initial investment will be of Rs 8,000 crore.
While the State Government will hold about 11 per cent stake in the project, the rest will be picked by the other PSUs such as NMDC and steel companies, who are the major users of the port facilities.
Once commissioned, the State will have two major ports, the other being the country’s premier Visakhapatnam port, and 14 non-major ports.
Having occupied the top slot amongst all major ports in terms of throughput for six consecutive years, it slipped to the second position, after Kandla, in the last two years.
However, the port, which currently handles about 70 million tonnes of cargo annually, is expanding its capacity, after which it could regain the lost position.
Rs 3,500-cr expansion
The Rs 3,500-crore expansion, which includes setting up three coal berths, a fertiliser berth, a liquid cargo berth and a general cargo berth, are all scheduled for completion within a year.
It is being implemented through the (public-private partnership) PPP route, with private sector port players such as Essar, involved in the capacity building exercise.
The three non-major ports in the State, Gangavaram, Kakinada and Krishnapatnam ports, together handle about 40 million tonnes.
The State Government has prepared a master plan that envisages increasing the capacity of its non-major ports to handle 175 million tonnes in 2020.
Immediate on the anvil are two ports at Machilipatnam and Nizampatnam, with 20 million tonnes and 15 million tonnes capacity respectively.
Gangavaram port is expanding its capacity from 15 million tonnes to 45 million tonnes by adding three multi-purpose berths and a coal handling terminal, which may be commissioned by next year.
Already the port has made waves in the industry due to the natural draft that it has, allowing bigger ships to anchor.
A recently study by trade body Assocham has pointed out that Andhra Pradesh commanded a lion’s share of over 46 per cent in the total basket of new port projects being implemented across Indian maritime States.
The State is currently implementing three projects worth Rs 20,000 crore in the ports sector under the PPP model as on April 2013, according to a study.
However, the study revealed that Andhra Pradesh comes fourth in terms of completion of port-related projects in the Eleventh Plan period — it completed three projects worth Rs 1,425 crore, with a share of 5.8 per cent in the completed projects pie.
Indeed, Andhra Pradesh is well on its way to becoming a major logistics hub not only in the realm of sea transportation but also air cargo.
Air Cargo hub
The Rajiv Gandhi International airport, located at the centre of the country’s production hub with a strong regional connectivity, is gaining ground as India’s first full-fledged air cargo hub.
With more than 20 important domestic and other South Asian cities located less then two hours of flying time away and South-East Asian cities such as Singapore, Kuala Lumpur and Bangkok and Westa Asia cities four hours away, the airport is gearing up to cash in on this natural advantage.
Hyderabad airport currently handles over one lakh tonnes a year, which can be modularly scaled up to 1.5 lakh tonnes.
Lufthansa has already nominated the airport as its pharma hub and Cathay Pacific recently added Hyderabad with a twice-a-week Boeing 747 freighter service. Also Thai Airways and Blue Dart are offering main-deck through their Boeing 747-400F MD-11F and Boeing 757F freighters.
More airlines
In addition, about 18 scheduled airlines, including 13 international, have cargo bases here, offering belly spaces, ranging from 2-3 tonnes in a 737 type aircraft and 20-25 tonnes in the larger 747 type aircraft.
The airport has a 33,000-tonne capacity dedicated temperature-controlled pharma zone, a 20-acre Free Trade Zone with warehousing and distribution and the integrated terminal operated by GMR and Menzies Aviation of the UK.
New initiatives include cool container links for pharma products, general and temperature-controlled warehouses within the cargo village, promotion of road feeder services and 24x7 customs clearance of cargoes.
While the State Government will hold about 11 per cent stake in the project, the rest will be picked by the other PSUs such as NMDC and steel companies, who are the major users of the port facilities.
Once commissioned, the State will have two major ports, the other being the country’s premier Visakhapatnam port, and 14 non-major ports.
Having occupied the top slot amongst all major ports in terms of throughput for six consecutive years, it slipped to the second position, after Kandla, in the last two years.
However, the port, which currently handles about 70 million tonnes of cargo annually, is expanding its capacity, after which it could regain the lost position.
Rs 3,500-cr expansion
The Rs 3,500-crore expansion, which includes setting up three coal berths, a fertiliser berth, a liquid cargo berth and a general cargo berth, are all scheduled for completion within a year.
It is being implemented through the (public-private partnership) PPP route, with private sector port players such as Essar, involved in the capacity building exercise.
The three non-major ports in the State, Gangavaram, Kakinada and Krishnapatnam ports, together handle about 40 million tonnes.
The State Government has prepared a master plan that envisages increasing the capacity of its non-major ports to handle 175 million tonnes in 2020.
Immediate on the anvil are two ports at Machilipatnam and Nizampatnam, with 20 million tonnes and 15 million tonnes capacity respectively.
Gangavaram port is expanding its capacity from 15 million tonnes to 45 million tonnes by adding three multi-purpose berths and a coal handling terminal, which may be commissioned by next year.
Already the port has made waves in the industry due to the natural draft that it has, allowing bigger ships to anchor.
A recently study by trade body Assocham has pointed out that Andhra Pradesh commanded a lion’s share of over 46 per cent in the total basket of new port projects being implemented across Indian maritime States.
The State is currently implementing three projects worth Rs 20,000 crore in the ports sector under the PPP model as on April 2013, according to a study.
However, the study revealed that Andhra Pradesh comes fourth in terms of completion of port-related projects in the Eleventh Plan period — it completed three projects worth Rs 1,425 crore, with a share of 5.8 per cent in the completed projects pie.
Indeed, Andhra Pradesh is well on its way to becoming a major logistics hub not only in the realm of sea transportation but also air cargo.
Air Cargo hub
The Rajiv Gandhi International airport, located at the centre of the country’s production hub with a strong regional connectivity, is gaining ground as India’s first full-fledged air cargo hub.
With more than 20 important domestic and other South Asian cities located less then two hours of flying time away and South-East Asian cities such as Singapore, Kuala Lumpur and Bangkok and Westa Asia cities four hours away, the airport is gearing up to cash in on this natural advantage.
Hyderabad airport currently handles over one lakh tonnes a year, which can be modularly scaled up to 1.5 lakh tonnes.
Lufthansa has already nominated the airport as its pharma hub and Cathay Pacific recently added Hyderabad with a twice-a-week Boeing 747 freighter service. Also Thai Airways and Blue Dart are offering main-deck through their Boeing 747-400F MD-11F and Boeing 757F freighters.
More airlines
In addition, about 18 scheduled airlines, including 13 international, have cargo bases here, offering belly spaces, ranging from 2-3 tonnes in a 737 type aircraft and 20-25 tonnes in the larger 747 type aircraft.
The airport has a 33,000-tonne capacity dedicated temperature-controlled pharma zone, a 20-acre Free Trade Zone with warehousing and distribution and the integrated terminal operated by GMR and Menzies Aviation of the UK.
New initiatives include cool container links for pharma products, general and temperature-controlled warehouses within the cargo village, promotion of road feeder services and 24x7 customs clearance of cargoes.
Reliance Ind, partners get nod to invest $4 billion in D-6 block
New Delhi: Reliance Industries and its partners in the KG-D6 block — BP Plc and Niko Resources — have received Government approval to invest $4 billion in the R-Series gas-field in the block.
R-series is a cluster of four discoveries in the block, of which, D-34 has been declared commercially viable. The block management committee, at its meeting here on Thursday, approved the investments for D-34, an official privy to the development said.
The earlier investment of $3.18 billion has been revised to $4 billion as input costs have gone up, the official told Business Line. This discovery is estimated to hold an in-place reserve of 2.2 trillion cubic feet of gas, while recoverable reserves are estimated at 1.191 trillion cubic feet of gas.
Though the rate of production is not yet known, indications are that it could be close to the combined current production from the block — 13 mmscmd (million standard cubic metre a day) of gas. The partners plan to quickly bring this discovery to production to help reverse the decline in output.
Due to a technical snag, the largest producing fields in the block (D-1 and D-3) reported a significant decline in output after hitting a peak of 61 mmscmd in 2010. RIL has so far made 19 gas discoveries and one oil find in the KG-D6 block. Of these, D-1 and D-3, the largest gas-fields, were brought to production in 2009 while the MA oilfield began pumping crude in September 2008.
On August 23, the Minister of State for Petroleum and Natural Gas, Panabaaka Lakshmi, informed the Lok Sabha that to increase output from the D-6 block, the contractor (RIL) has been asked to drill, complete and connect more wells and undertake appropriate remedial measures to revive the sick wells in the D-1, D-3 and MA fields.
The Minister also said the revised development plan for the MA field and the optimised field development plan of another four discoveries — D-2, D-6, D-19 and D-22 — have been approved.
The gas production from the D-1 and D-3 fields has been much lower than the rates approved in the field development plan, even as facilities for producing 80 mmscmd have been set up, the Minister said.
R-series is a cluster of four discoveries in the block, of which, D-34 has been declared commercially viable. The block management committee, at its meeting here on Thursday, approved the investments for D-34, an official privy to the development said.
The earlier investment of $3.18 billion has been revised to $4 billion as input costs have gone up, the official told Business Line. This discovery is estimated to hold an in-place reserve of 2.2 trillion cubic feet of gas, while recoverable reserves are estimated at 1.191 trillion cubic feet of gas.
Though the rate of production is not yet known, indications are that it could be close to the combined current production from the block — 13 mmscmd (million standard cubic metre a day) of gas. The partners plan to quickly bring this discovery to production to help reverse the decline in output.
Due to a technical snag, the largest producing fields in the block (D-1 and D-3) reported a significant decline in output after hitting a peak of 61 mmscmd in 2010. RIL has so far made 19 gas discoveries and one oil find in the KG-D6 block. Of these, D-1 and D-3, the largest gas-fields, were brought to production in 2009 while the MA oilfield began pumping crude in September 2008.
On August 23, the Minister of State for Petroleum and Natural Gas, Panabaaka Lakshmi, informed the Lok Sabha that to increase output from the D-6 block, the contractor (RIL) has been asked to drill, complete and connect more wells and undertake appropriate remedial measures to revive the sick wells in the D-1, D-3 and MA fields.
The Minister also said the revised development plan for the MA field and the optimised field development plan of another four discoveries — D-2, D-6, D-19 and D-22 — have been approved.
The gas production from the D-1 and D-3 fields has been much lower than the rates approved in the field development plan, even as facilities for producing 80 mmscmd have been set up, the Minister said.
Aegis joint venture firm wins $50-m outsourcing deal
Mumbai: Contact Centre Company (CCC), a joint venture between India’s Aegis and Saudi Telecom Company (STC), has won an outsourcing contract from STC. The company did not disclose the size of the contract, which is to be executed under various phases.
Aegis is Essar Group’s BPO. A spokesperson declined to comment on the contract value. Industry sources have placed the valued at $50 million (about Rs 330 crore).
In a statement, Aegis said CCC would provide recruitment and human resource process outsourcing services for more than 1,000 employees across various STC business units.
CCC, a Saudi Arabia-based company, will also outsource recruitment, core human resource administration, learning services (covering content sourcing) and development for STC. The scope of the contract also includes payroll administration and management.
“This contract represents a new milestone in Aegis–STC collaboration,” Aegis Global Chief Executive Officer Sandip Sen said. At present, CCC employs more than 1,300 personnel across its two locations in Riyadh and Jeddah. It had also won six external clients across media, government, banking, financial services and insurance, healthcare and travel and hospitality verticals.
Aegis was planning to expand operations in Asian geographies, including newer markets such as China and Africa.
The Mumbai-based firm, which had put its earlier stake-sale plans on ice, is also looking at an initial listing by next year.
Aegis is Essar Group’s BPO. A spokesperson declined to comment on the contract value. Industry sources have placed the valued at $50 million (about Rs 330 crore).
In a statement, Aegis said CCC would provide recruitment and human resource process outsourcing services for more than 1,000 employees across various STC business units.
CCC, a Saudi Arabia-based company, will also outsource recruitment, core human resource administration, learning services (covering content sourcing) and development for STC. The scope of the contract also includes payroll administration and management.
“This contract represents a new milestone in Aegis–STC collaboration,” Aegis Global Chief Executive Officer Sandip Sen said. At present, CCC employs more than 1,300 personnel across its two locations in Riyadh and Jeddah. It had also won six external clients across media, government, banking, financial services and insurance, healthcare and travel and hospitality verticals.
Aegis was planning to expand operations in Asian geographies, including newer markets such as China and Africa.
The Mumbai-based firm, which had put its earlier stake-sale plans on ice, is also looking at an initial listing by next year.
Indian pharmaceutical companies bag 40 per cent of ANDAs approved by USFDA: Report
New Delhi: According to a report by CentrumBSE -4.79 % Broking, Indian pharma companies bagged around 40% of all Abbreviated New Drug Approvals (ANDA) approvals from the US Food and Drug Administration (FDA) between January and July 2013. ANDA approval is a pre-requisite for marketing generic products in the US. Among the Indian companies, Sun PharmaBSE 3.03 % and Aurobindo PharmaBSE 1.35 % emerged the winners with 21 and 20 ANDA approvals respectively.
This augurs well for the Indian pharma industry, which is poised to benefit from the approvals coming at a time when rupee has faced its steepest depreciation against the US dollar. The US performance of most export-oriented pharma companies has been quite strong in the last two quarters. In the current scenario of weakening rupee, the export-oriented sector is likely to perform better than most other sectors - thanks to better realisations from the US market. Companies like Sun Pharma, LupinBSE 0.30 %, Ranbaxy and Dr Reddy's Labs earn majority of their revenues from the US.
However, some companies like CiplaBSE 3.86 % have warned that the benefit may not last long since the companies would be expected to give bigger discounts on their generics to remain competitive.
This augurs well for the Indian pharma industry, which is poised to benefit from the approvals coming at a time when rupee has faced its steepest depreciation against the US dollar. The US performance of most export-oriented pharma companies has been quite strong in the last two quarters. In the current scenario of weakening rupee, the export-oriented sector is likely to perform better than most other sectors - thanks to better realisations from the US market. Companies like Sun Pharma, LupinBSE 0.30 %, Ranbaxy and Dr Reddy's Labs earn majority of their revenues from the US.
However, some companies like CiplaBSE 3.86 % have warned that the benefit may not last long since the companies would be expected to give bigger discounts on their generics to remain competitive.
IT spending for banks, securities firms to grow 13%
Mumbai: Indian banking and securities companies will spend about Rs 41,700 crore on IT products and services in 2013, 13 per cent over 2012 revenues of Rs 36,900 crore.
This includes spending by financial institutions on internal IT services (including personnel), IT services, software, data centre technologies, devices and telecom services, according to a study by research and analyst firm Gartner.
IT services will be the largest segment in the overall spending category at Rs 13,100 crore in 2013.
This is due to a strong focus on the financial services sector by IT services providers, which is growing stronger than other segments at nearly 18 per cent compared with 2012, it said.
Expansion
“The focus on expansion and increasing market share remains a top priority for banks in India. As in other emerging markets, the front office gets preference over the back office in major investments,” said Vittorio D’Orazio, research director at Gartner.
Software next
Software is the second fastest growth segment in spending on pace to increase 17.1 per cent, followed by internal services (that includes IT personnel) at 15.7 per cent.
In the software segment, desktop software and enterprise resource planning (ERP), supply chain management (SCM) and customer relationship management (CRM) will exceed the 20 per cent growth landmark with 22.1 per cent and 21.7 per cent, respectively.
This includes spending by financial institutions on internal IT services (including personnel), IT services, software, data centre technologies, devices and telecom services, according to a study by research and analyst firm Gartner.
IT services will be the largest segment in the overall spending category at Rs 13,100 crore in 2013.
This is due to a strong focus on the financial services sector by IT services providers, which is growing stronger than other segments at nearly 18 per cent compared with 2012, it said.
Expansion
“The focus on expansion and increasing market share remains a top priority for banks in India. As in other emerging markets, the front office gets preference over the back office in major investments,” said Vittorio D’Orazio, research director at Gartner.
Software next
Software is the second fastest growth segment in spending on pace to increase 17.1 per cent, followed by internal services (that includes IT personnel) at 15.7 per cent.
In the software segment, desktop software and enterprise resource planning (ERP), supply chain management (SCM) and customer relationship management (CRM) will exceed the 20 per cent growth landmark with 22.1 per cent and 21.7 per cent, respectively.
BHEL, PowerGrid among 5 PSUs setting up mega solar power project
New Delhi: Five central public sector undertakings (CPSUs) intend to set up a solar power project with a total capacity of 4,000 megawatts.
BHEL, PowerGrid Corporation, Satluj Jal Vidyut Nigam, Solar Energy Corporation, and Hindustan Salts will set up the project on land belonging to Hindustan Salt at Sambhar in Rajasthan.
The operation and management contract for this project, to be commissioned in three years, is to be awarded to another CPSU, Rajasthan Electronics and Instruments.
Investment
“The effort is to set up 1,000 mw capacity initially with an investment of Rs 7,500 crore. Then additional capacity of 3,000 MW will be developed in six phases of 500 MW each,” a person familiar with the development told Business Line, adding that the modalities were being worked out.
The project will be a joint initiative of the Heavy Industries Ministry and the Ministry of New and Renewal Energy and approval to set up a special purpose vehicle will be sought from the Union Cabinet.
A senior Government official said this project would benefit the companies concerned in many ways, apart from financial gain on the basis of equity participation.
For example, Hindustan Salt has a vast area of land in Rajasthan. Over 20,000 acres can now be used for the project, which will give the company additional financial benefits, the official added.
Similarly, power generation equipment manufacturer BHEL, which hopes to expand its manufacturing capacity for photovoltaic module and cells, will also benefit from such a project.
Also, the National Action Plan on Climate Change has targeted 15 per cent of electricity generation by renewables (biomass, small hydro power and wind power apart from solar power) by 2020.
Desert an advantage
The official said two key resources were required for a solar power project. One, lots of sunlight and, two, huge land area, and Rajasthan has both.
According to the Bureau of Investment Promotion of Rajasthan, the State is uniquely placed to tap sunlight with 300-330 clear sunny days and average daily solar incidence of 5-7 kilowatt-hours per square metre per day (kWh/m2).
The total desert area in the State is over two lakh sq km. Also, 60 per cent of the land in the State is arid and semi-arid.
The Government aims to augment solar power capacity to 20,000 MW by 2022 from the current capacity of over 1,600 MW.
BHEL, PowerGrid Corporation, Satluj Jal Vidyut Nigam, Solar Energy Corporation, and Hindustan Salts will set up the project on land belonging to Hindustan Salt at Sambhar in Rajasthan.
The operation and management contract for this project, to be commissioned in three years, is to be awarded to another CPSU, Rajasthan Electronics and Instruments.
Investment
“The effort is to set up 1,000 mw capacity initially with an investment of Rs 7,500 crore. Then additional capacity of 3,000 MW will be developed in six phases of 500 MW each,” a person familiar with the development told Business Line, adding that the modalities were being worked out.
The project will be a joint initiative of the Heavy Industries Ministry and the Ministry of New and Renewal Energy and approval to set up a special purpose vehicle will be sought from the Union Cabinet.
A senior Government official said this project would benefit the companies concerned in many ways, apart from financial gain on the basis of equity participation.
For example, Hindustan Salt has a vast area of land in Rajasthan. Over 20,000 acres can now be used for the project, which will give the company additional financial benefits, the official added.
Similarly, power generation equipment manufacturer BHEL, which hopes to expand its manufacturing capacity for photovoltaic module and cells, will also benefit from such a project.
Also, the National Action Plan on Climate Change has targeted 15 per cent of electricity generation by renewables (biomass, small hydro power and wind power apart from solar power) by 2020.
Desert an advantage
The official said two key resources were required for a solar power project. One, lots of sunlight and, two, huge land area, and Rajasthan has both.
According to the Bureau of Investment Promotion of Rajasthan, the State is uniquely placed to tap sunlight with 300-330 clear sunny days and average daily solar incidence of 5-7 kilowatt-hours per square metre per day (kWh/m2).
The total desert area in the State is over two lakh sq km. Also, 60 per cent of the land in the State is arid and semi-arid.
The Government aims to augment solar power capacity to 20,000 MW by 2022 from the current capacity of over 1,600 MW.
SIDBI, Franchise India tie up to fund franchisee business
New Delhi: Small Industries Development Bank of India (SIDBI) has joined hands with Franchise India to provide financial support to emerging and established franchisors in India.
The tie-up is expected to enable SIDBI create a sustainable and robust financing model for the franchise industry, N.K.Maini, Deputy Managing Director, SIDBI, told Business Line here.
The SIDBI-Franchise India programme has been instituted as a funding initiative to make the franchising model of business less daunting for aspiring entrepreneurs.
Currently, financing is very difficult as the franchisees are often not able to provide any collateral, it was pointed out.
“We are now looking to devise a product that is based not essentially on the collateral but on the cash flows,” Maini said, adding that efforts were only in the pilot stage and the product could be firmed up in the next six months.
Maini said that franchise industry in India is expected to grow by leaps and bounds.
From 1.4 per cent of GDP at present, the franchise industry is likely to account for 4 per cent of GDP by 2017, says a recent report by KPMG.
The tie-up is expected to enable SIDBI create a sustainable and robust financing model for the franchise industry, N.K.Maini, Deputy Managing Director, SIDBI, told Business Line here.
The SIDBI-Franchise India programme has been instituted as a funding initiative to make the franchising model of business less daunting for aspiring entrepreneurs.
Currently, financing is very difficult as the franchisees are often not able to provide any collateral, it was pointed out.
“We are now looking to devise a product that is based not essentially on the collateral but on the cash flows,” Maini said, adding that efforts were only in the pilot stage and the product could be firmed up in the next six months.
Maini said that franchise industry in India is expected to grow by leaps and bounds.
From 1.4 per cent of GDP at present, the franchise industry is likely to account for 4 per cent of GDP by 2017, says a recent report by KPMG.
Government sets a target of 259 million tonnes of foodgrains of production in 2013-14
Kolkata: Government has set a target of 259 million tonnes of foodgrains production in the year 2013-14. Government of India is implementing various crop development programmes/schemes through State Governments for achieving production targets of various crops.
Programmes like Rashtriya Krishi Vikas Yojana (RKVY), National Food Security Mission (NFSM), Integrated Scheme on Oilseeds, Pulses, Oil Palm and Maize (ISOPOM), Bringing Green Revolution to Eastern India (BGREI), Initiative for Nutritional Security through Intensive Millets Promotion (INSIMP), Nutri-Farms Scheme, Special Programme on Oil Palm Area Expansion (OPAE), Crop Diversification Programme, etc. are being implemented for increasing production and productivity of different field crops.
Under these programmes, various activities like demonstration on high yielding varieties/hybrids, distribution of seed of improved varieties/hybrids, need based plant protection and soil amendments, resource conservation techniques/ energy management, efficient water application tools, and cropping system based trainings, are being taken-up to achieve the production target.
This information was given by Shri Tariq Anwar, Minister of State for Agriculture and Food Processing Industries in written reply to a question in the Lok Sabha today.
Programmes like Rashtriya Krishi Vikas Yojana (RKVY), National Food Security Mission (NFSM), Integrated Scheme on Oilseeds, Pulses, Oil Palm and Maize (ISOPOM), Bringing Green Revolution to Eastern India (BGREI), Initiative for Nutritional Security through Intensive Millets Promotion (INSIMP), Nutri-Farms Scheme, Special Programme on Oil Palm Area Expansion (OPAE), Crop Diversification Programme, etc. are being implemented for increasing production and productivity of different field crops.
Under these programmes, various activities like demonstration on high yielding varieties/hybrids, distribution of seed of improved varieties/hybrids, need based plant protection and soil amendments, resource conservation techniques/ energy management, efficient water application tools, and cropping system based trainings, are being taken-up to achieve the production target.
This information was given by Shri Tariq Anwar, Minister of State for Agriculture and Food Processing Industries in written reply to a question in the Lok Sabha today.
FM announces Rs 1.83 lakh crore boost for Infrastructure
New Delhi: Finance Minister P Chidambaram announced the Cabinet Committee on Investments (CCI) has given its approval for speedy execution of 36 infrastructure projects entailing investments of Rs 1.83 lakh crore. The approval, aimed at bolstering investor confidence, covers 18 projects in power sector alone.
'The message we are sending through the approval is that we are keen to get the investment cycle restarted. The cycle has started and we are pushing it further,' Chidambaram said. The development comes within a few days of the FM assuring banks and foreign institutions of the government’s intent to expedite clearance for large projects.
Power sector projects cleared by CCI involve investment of Rs 88,773 crore. These include Reliance Power’s 4,000 Mw Sasan Ultra Mega Power project (UMPP) which was stuck up owing to forest clearance and Essar Power’s 1,800 Mw Jharkhand power project.
The FM said banks have already disbursed Rs 30,000 crore for power sector projects and, with clearances in place, more funds for these projects are expected to flow in. He also said Fuel Supply Agreements (FSAs) will be put in place by 6 September for projects stuck for want of coal supply.
Apart from power projects, the CCI has also cleared nine projects with an outlay of Rs 14,084 crore. Additional nine projects reviewed by CCI involve an investment of over Rs 85,000 crore, he informed.
He added approvals have been granted for L&T’s Metro Rail project in Hyderabad. The company is currently obtaining clearance for quarrying for the Rs 16,375 crore project. In road sector, GMR Group’s Kishangarh-Udaipur-Ahmedabad project will be brought to the Cabinet by 15 September.
Other projects which have received the go-ahead from CCI include Hindalco Industries’ manufacturing plant in Odisha which is awaiting Special Economic Zone (SEZ) clearance and Jaiprakash Power’s MP Power plant which is stuck owing to compensatory forestation issues.
'The message we are sending through the approval is that we are keen to get the investment cycle restarted. The cycle has started and we are pushing it further,' Chidambaram said. The development comes within a few days of the FM assuring banks and foreign institutions of the government’s intent to expedite clearance for large projects.
Power sector projects cleared by CCI involve investment of Rs 88,773 crore. These include Reliance Power’s 4,000 Mw Sasan Ultra Mega Power project (UMPP) which was stuck up owing to forest clearance and Essar Power’s 1,800 Mw Jharkhand power project.
The FM said banks have already disbursed Rs 30,000 crore for power sector projects and, with clearances in place, more funds for these projects are expected to flow in. He also said Fuel Supply Agreements (FSAs) will be put in place by 6 September for projects stuck for want of coal supply.
Apart from power projects, the CCI has also cleared nine projects with an outlay of Rs 14,084 crore. Additional nine projects reviewed by CCI involve an investment of over Rs 85,000 crore, he informed.
He added approvals have been granted for L&T’s Metro Rail project in Hyderabad. The company is currently obtaining clearance for quarrying for the Rs 16,375 crore project. In road sector, GMR Group’s Kishangarh-Udaipur-Ahmedabad project will be brought to the Cabinet by 15 September.
Other projects which have received the go-ahead from CCI include Hindalco Industries’ manufacturing plant in Odisha which is awaiting Special Economic Zone (SEZ) clearance and Jaiprakash Power’s MP Power plant which is stuck owing to compensatory forestation issues.
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