Goyal wants implementation of MoUs
Commerce and Industry Minister Piyush Goyal has reviewed 17 large-size infrastructure projects worth Rs.32,910 crore on 27 of February in the Department of Promotion of Industry and Internal Trade (DPIIT), New Delhi on 27 Feb 2020.
Thirty-six project related issues were raised during the review.
Among the projects reviews were:
BPCL’s Petroleum and Petrochemical projects in Rasayani, Maharashtra: The Rs.7,000 crore project is critical for BPCL’s plan to grow its petrochemical business from its current 1% of portfolio to 15%. This project will reduce import dependency of petrochemicals and boost growth of associated ancillary setups and industries.
Four-laning of Govindpur (Rajganj)-Chas-West Bengal Border Section of NH-32: This railway project has industrial significance as it passes through coal mining hub of Dhanbad and the steel city of Bokaro.
Implementation of Transmission Systems in Jharkhand Consisting of 400/220/132/33 kV Transmission Lines and Substation: The Rs.1,800 crore project is necessary to feed power in deficit load centres for economic and social growth in Jharkhand.
Londa–Miraj Doubling Project: The Rs.2,436 crore 280-km railway line was announced in 2017 to generate new avenues for business in western Maharashtra.
Actionable directions and timelines were issued for the expeditious resolution of pending issues in all projects.
Goyal emphasised the importance of setting up additional transmission lines for power projects in the expanding city of Bangalore where power deficits had arisen earlier due to lack of infrastructure, given high land prices for erecting new infrastructure.
The Minister also directed the Railways to prioritise investments in projects where the state provides for 100% land acquisition.
He also called on States to review and prioritise their Railway projects while giving due importance to freight, keeping in mind economic development priorities of the state.
Goyal called for disbursement of funds through letters of credit to optimally utilise working capital.
The minister called for more Ministries and States to upload their projects across sectors including defence to be taken up by PMG.
He also called for a review of all Memorandums of Understanding (MoUs) if these pacts were translated into investments.
He expressed the hope that all stakeholders would monitor the progress closely and would unlock more of such investments by putting their projects on fast-track mode. fiinews.com
