India's Prime Minister-designate Narendra Modi, who has repeatedly batted for smooth clearances for big projects, would have a brilliant chance to score a point once he takes over. Reason: At least 20 projects worth nearly Rs 1.2 lakh crore are ready to be sent to the new Union Cabinet for quick approval.
These 20 projects include Rs 30,000 crore worth Bhushan Steel Ltd Project in Odisha and Rs 25,000 crore worth Sasan Ultra Mega Power Project (UMPP) of Reliance Power in Madhya Pradesh among others.
Sasan UMPP is 3,960 mw pit-head coal-based power plant and is the first domestic coal-based UMPP awarded in the country by Indian government. Reliance Power Ltd is a part of the Reliance Anil Dhriubhai Ambani group.
The list has been prepared to be given to Cabinet Committee on Investment (CCI), which was formed during the Congress-led UPA rule to help clear clearances hurdles for industry.
"We expect CCI to be retained as one of the committees in the new Union Cabinet as it was one of the few committees which worked wonderfully in the last one year or so clearing projects across India. Industry has also been very happy with PMG and CCI," sources said.
CCI and PMG together have cleared hurdles in nearly 200 projects worth several lakh crores in the last one year in a bid to address industry complains. PMG (Project Monitoring Group) under Cabinet Secretariat alone has cleared around 150 projects worth Rs 4.04 lakh crore in less than a year.
Of those Rs 4.04 lakh crore worth projects, investment of around Rs 3.14 crore has already been invested by the industry.
"Some of these 20 projects also include those where policy issues are to be addressed. Policy changes are required in environment clearances and also in clearances from other ministries, where some tweaking has to be done," sources said.
Government sources believe it is a "perfect chance" for Narendra Modi to hit the ground running and show to everyone that he means "business and development".
Other big project among these 20 is Nyamjang Chhu HEP power project in Arunachal Pradesh worth Rs 7,000 crore. It is a run of the river project on river Nyamjang Chhu in Tawang district of Arunachal Pradesh for generation of 780 mw.
Another big project in that list is GMR's 1,370 mw power project in Chhattisgarh which is worth Rs 8,290 crore.
Some of the projects
Bhushan Steel Ltd-New Patrapara coal block (Odisha) - Rs 30,000 crore
Sasan Ultra Mega Power Project (Madhya Pradesh) – Rs 25,000 crore
Akaltara TPP of KSK Mahanadi Power Co – Rs 16,190
GMR Chhattisgarh Energy Ltd project – Rs 8,290 crore
Nyamjung Chhu HEP hydro project (Arunachal Pradesh) – Rs 7,000 crore
Shree Singaji Thermal Power Project (in Khandwa) – Rs 6,500 crore
1,200 mw Tamnar Power Plant – Rs 6,300 crore
540 mw GVK Power (Goindwal Sahib) Ltd project – Rs 3,500 crore
Chandrapura 750 mw power project – Rs 2,500 crore
246 mw IPP of Abhijeet MADC Nagpur Energy Pvt Ltd –Rs 1,677 crore