The government on Friday cleared three infrastructure projects involving a total investment of R25,000 crore to reduce the risk of bank loans given for these projects turning non-performing assets, financial services secretary D K Mittal told reporters.
The projects that received clearance are Hyderabad Metro Rail project of L&T, a power project of Hinduja National Power Corporation Ltd and a Seemabari expressway project in Andhra Pradesh. All these projects were stuck for want of different regulatory clerances.
The nod for these projects were given by a finance ministry led inter-ministerial committee on Friday. The committee has been set up to fast track the clearances for stalled infrastructure projects and mitigate risk of NPAs in the banking sector on loans committed for these. Officials from finance ministry and environment ministry were present during the meeting.
