A total of 616 new projects worth Rs.47,461 crore were announced in March, of which 502 were greenfield projects, 100 were plant modernisation and the balance 14 were brownfield projects.
The announcement of a 4,000-MW coal-based ultra mega power project in Etah district of Uttar Pradesh by Power Finance Corporation lifted the overall fresh investment figures for the month. The project, to be executed on BOT basis, is expected to cost around Rs.25,000 crore.
Out of the 616 projects, the promoters of 313 projects, mostly in the power distribution and real estate sectors, are yet to firm up project costs, as either the scope has not been finalised or the location is yet to be fixed.
Of the 10 mega projects valued at Rs.500 crore or more announced in March 2015, two were in the manufacturing sector. Seya Industries plans to set up a 3.6-lakh tpa sulphuric acid unit at Tarapur Industrial Area, Palghar, in Thane district of Maharashtra, with an investment of Rs.700 crore, and Southern Railways intends to set up a Rs.550-crore rail coach factory in Palakkad district of Kerala.
Following the allocation of 25 coalmines to private firms by the Ministry of Power in Schedule-II & III under the Coal Mines (Special Provisions) Second Ordinance, 2014, the month also saw the announcement of a number of coalmine development projects. Though most of the project promoters have not announced the size of their investments, the sector is expected to attract considerable investment in the next two to three years.
The services and utilities (infrastructure) sector saw 504 new projects worth Rs.13,146 crore and accounted for 27 per cent of the total fresh investment announced in March. Uttar Pradesh Rajkiya Nirman Nigam plans to develop a Rs.641-crore police bhawan (signature building) at Sector-7, Gomtinagar Extension, in Lucknow district of Uttar Pradesh, on turnkey basis.
Besides the above project, Asian Institute of Gastroenterology plans to construct a hospital with an investment of Rs.500 crore at Survey No.136/1, Gachibowli in Ranga Reddy district of Telangana. The project, to be spread over 12.5 lakh sq. ft of land, comprises a building of G+4 floors with a capacity of 600 beds including various modern amenities. Shapoorji Pallonji & Co. Ltd is the civil contractor for the project.
The 17 new mega food parks sanctioned by the Ministry of Food Processing, last month, is expected to bring in fresh investment of Rs.2,333 crore. Out of the 17 MFPs, six have been sanctioned to state government authorities and 11 to private developers.
Eighteen new power projects and 68 new distribution lines helped the electricity sector attract fresh project investment worth Rs.31,134 crore. Apart from PFC’s Rs.25,000-crore Etah UMPP project, SEW Mago Chu Power Corporation announced three hydropower projects worth Rs.1,100 crore each, in Arunachal Pradesh.
Besides the above mega projects, Welspun Energy plans to set up a 100-MW solar-based power unit in Tamil Nadu with an investment of Rs.700 crore. The company signed a power purchase agreement with Tamil Nadu Generation and Distribution Corporation in March.
Among the states, Uttar Pradesh topped the investment chart with 94 projects worth Rs.27,927 crore and accounted for 58 per cent of the total fresh investment emanated in March 2015, while Maharashtra attracted the highest number of new projects – 101 projects entailing a total investment of Rs.1,839 crore.
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