Rs33,000 crore power projects get CCI nod

The Cabinet Committee on Investment (CCI) on Monday gave its go-ahead to power projects worth Rs33,000 crore.

In its meeting, the panel reviewed the status of 20 projects with investment of Rs1,000 crore or more that are waiting for approvals from the Ministry of Environment and Forest.
It cleared 13, including 10 transmission, one thermal and two hydro projects, most of which were waiting for Stage 1 and Stage 2 clearance.

Of the remaining, the Ministry of Power has decided not to move three proposals to CCI and is following up with the Ministry of Coal on them.

“For remaining four projects, matter is being followed up with state governments and other ministries/agencies for clearances,” said a government release.

The CCI also cleared 25 exploration and production (E&P) blocks for continued exploration of oil and gas, out of 31 E&P blocks where work had been stopped on account of security restrictions imposed by the Ministry of Defence.

Of the 31 blocks, nine have been fully cleared and 16 cleared with specific conditions by the ministry.

The CCI, which comes directly under the Prime Minister’s Office, had to intervene as investments to the tune of $13.42 billion had already been made in these projects.
The government now expects further investments worth $2.5 billion in these projects over the next 3-5 years.