A Rs.25,000-crore solar photovoltaic panels manufacturing project of Adani Enterprises lifted the overall fresh investment figures for January 2015. The company intends to set up the project in a joint venture with SunEdison Energy India at Mundra in Kutch district of Gujarat.
In January 2015, 608 new projects worth Rs.85,017 crore were announced. Of these, 491 projects worth Rs.79,455 crore were greenfield projects, 94 were plant modernisation projects, and the balance 23 were brownfield projects. Further, of the 608 projects, the promoters of 329 projects, mostly in the power distribution and real estate sectors, have not yet firmed up project costs.
Apart from the Adani solar photovoltaic panels project, the manufacturing sector saw the announcement of three more mega projects. General Electric Co. plans to set up a Rs.3,000-crore high capacity platform turbines manufacturing unit in Maharashtra. In the chemicals sector, paint major Asian Paints (India) Ltd plans to set up a new unit in Visakhapatnam district of Andhra Pradesh, with an investment of Rs.1,700 crore.
During the recently held Vibrant Gujarat Summit, Kalyani Strategic Systems Ltd announced its intention to set up a Rs.600-crore plant to manufacture armoured fighting vehicles at Dholera in Ahmedabad district of Gujarat.
The only mega project seen in the mining sector was by Crown Mining, a 100 per cent subsidiary of India Resources Ltd. The company plans to develop lead zinc mining at Aravalli region, in Alwar district of Rajasthan, with an investment of Rs.1,200 crore. The mining activities will be spread over 2,000 hectares of land.
The services and utilities (infrastructure) sector saw 498 new projects worth Rs.18,835 crore and accounted for 22 per cent of the total fresh investment of January 2015. A Rs.3,453 crore and a Rs.2,057 crore light metro rail projects in Thiruvananthapuram and Kozhikode, respectively, promoted by Kerala Rapid Transit Corporation, were the two mega projects announced in the transport infrastructure sector.
In the construction sector, Delhi Development Authority plans to construct a Rs.2,500-crore East Delhi hub at Karkardooma in Delhi. The township project, spread over 75 acres, will create 4,800 residential flats and space for commercial activities. The project will also include an iconic tower of G+100 floors having retail, offices and hotels, and a community park which will spread over five acres of land.
In the urban infrastructure sector, the water resources department of Odisha plans to implement a Rs.750-crore mega drinking water supply scheme in Nowpara and Kalahandi districts of the state. Elsewhere, Carnival Films plans to develop multiplexes with a total capacity of 200 screens in Madhya Pradesh, at an investment of Rs.500 crore.
Twenty-three new projects and 75 new power distribution lines helped the electricity sector in attracting fresh projects of Rs.14,645 crore. The largest power project of the month was announced by CLP Power India which plans to set up a 2,000-MW coal-based power unit in Gujarat, with an investment of Rs.12,400 crore.
Among the states, Gujarat topped the investment chart with 36 projects worth Rs.38,927 crore and accounted for 45 per cent of the total fresh investment emanated in January 2015; and Maharashtra attracted the highest number of new projects, at 110, worth Rs.4,544 crore.
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