CCI maiden meet today to fast track major infra projects facing hurdles

Jan 30 2013, 06:31 IST
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SummaryWhatever little help the Reserve Bank of India’s quarter-point reduction in the policy rate gives in boosting investment will be reinforced as the government prepares to clear the logjam over scores of power, steel and oil sector projects at the maiden meeting of the Cabinet Committee on Investment on Wednesday.

the CCI so that investor interest is maintained in the country’s infrastructure sector,” said a government official privy to the development.

The CCI is also expected to evaluate objections raised by the air force and navy on RIL’s KG-D6 block and gas discovery area NEC-25, and also look at ways to clear exploration projects of ONGC and BHP Billiton that have received a ‘no go’ tag from the defence ministry, sources said.

However, the committee is likely to leave the decision to fast-track clearance for a host of road sector projects for a future meeting. As many as 39 road projects worth over $ 4.5 billion are stuck due to pending environmental and forest clearances and issues related to land acquisition. The road ministry has already sent a list of about 15 projects worth over Rs 1,000 crore projects to the CCI for faster decisions.

“In most of the power projects, fuel-related issues have delayed projects. While parallel efforts are on at the ministry level to address the issues, the PM-led committee’s intervention has been called to prevent any further delays,” said the official quoted earlier.

The committee has been set up to oversee approvals in sectors such as energy, railways, roads and highways, airports, telecommunications, information technology, irrigation, housing and urban development. Though initially the committee was proposed to play a more proactive role by taking over the work of a ministry found in default in giving clearances, it would now play the role of a facilitator, bringing all government bodies on a single platform to resolve issues faster.

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