New Projects

Two new mega Metro Rail projects with a total investment commitment of Rs 70,570 crore accounted for around 27.5 percent of the total fresh investment announced in July 2023. While the Hyderabad Metro Rail plans to develop three phased Metro Rail project at a cost of Rs 60,000 crore, the Tricity Metro intends to set up a Metro line between Chandigarh and Mohali at a cost of Rs 10,570 crore.

In all, 722 new projects with a combined investment of Rs 2,56,675.86 crore were announced in various sectors in July 2023. Of this, 37 projects were mega projects (cost of Rs 1,000 crore or more) with a total capex outlay of Rs 1,77,133.12 crore.

The Manufacturing sector saw announcement of 131 new projects worth Rs 36,914.83 crore. Reflecting the slowdown in the private investment, the total monthly investment in this sector declined by a whopping 79.12 percent on a Y-o-Y basis. Bulk of the investment seen in this sector was by the Private sector.

Fresh Investment

Among the sub-sectors, Food & Agro processing, Chemicals, Non-metallic Mineral products, Metals, and Electronics accounted for bulk of the fresh investment. Among the noteworthy projects, Mondelez India Foods revealed plans to expand its Chocolates manufacturing unit at Sri City in Chittoor district of Andhra Pradesh with an investment of Rs 1,600 crore. Similarly, Polo Queen Industrial & Fintech announced a significant Agro Processing unit worth Rs 1,300 crore at MIDC Mahad in Raigarh district of Maharashtra.

In the Chemicals sector, Fortellia Industries is planning to set up a Chlor Alkali plant along with a Synthetic Organic Chemical plant with a capacity of 1,000 tpd in Kheer Khaiyaat village, Dungarpur district, Rajasthan. In the Non-Metallic Mineral Products sector, RIR Power Electronics, an Indian subsidiary of Silicon Power Group, plans to establish a 150 mm Silicon Carbide manufacturing unit in Odisha with an investment of Rs 1,000 crore.

In the Metals sector, three significant projects were announced. Minera Steel & Power aims to expand its Mini Steel Plant capacity from 0.15 million tpa to 0.65 million tpa at Yerabanahalli village in Ballari district, Karnataka at a cost of Rs 2,060 crore.

The Electronics sector witnessed two significant Semiconductors projects. HCL Technologies plans to set up a Rs 2,455.78 crore Semiconductors unit at Immavu Industrial Area in Mysuru district, Karnataka. Foxconn Industrial Internet Co. also announced a project in the Electronics sector, with an investment of Rs 1,000 crore in Tamil Nadu.

The Mining sector witnessed the announcement of 14 new projects worth Rs 5,855.96 crore. Mahanadi Coalfields plans to set up a Coal Handling plant (CHP) with belt conveyors, 40 million tpa dispatch through 3 nos of SILO with rapid loading system (Phase-I) at Barpali Bulb in Barugarh district, Odisha, on a turnkey basis. The project will also include a 4 million tpa alternate pre-weigh truck loading system at the integrated Kulda Garjanbhal OCP Basundhara area with an investment of Rs 1,032.28 crore. The tender has already been floated for the project.

Among the other major sectors, the Services & Utilities (Infrastructure) sector saw the highest number of projects and accounted for the largest share of investment. Within this sector, the Roadways, Tourism, Real Estate, and Water sectors saw brisk investment activities. In all, 533 projects worth Rs 1,47,712.69 crore were announced in this sector in July 2023.

In the Roadways sector, a total of 105 road building projects were announced, worth Rs 14,597.55 crore. One notable project is the Rs 1,826 crore road from Devanahalli-Vijapura-H. Cross-Vemagal-Maluru-Tamil Nadu Border in Karnataka, including the Hoskote Malur spur road, to be undertaken on Quality & Cost Based Selection (QCBS) in Karnataka on Hybrid Annuity Mode.

In the Railways sector, two mega Metro Rail projects were announced. Hyderabad Metro Rail (HMRL) unveiled its ambitious plans to develop the Phase-III of its Metro Rail project, which consists of three parts – Part-A, Part-B, and Part-C. Part-A spans 113 km with an investment of Rs 29,100 crore, Part-B covers 136 km with an investment of Rs 20,810 crore, and Part-C extends over 29 km with an investment of Rs 10,090 crore. The Government of Union Territory of Chandigarh announced the Tricity Metro Railway Line. This project, worth Rs 10,570 crore, aims to connect Chandigarh, Panchkula, and Mohali/New Chandigarh over a length of 77 km.

In the Tourism sector, the Public Works Department, Maharashtra, announced an integrated development plan for providing infrastructure facilities in and around Tuljapur city for its citizens and Pilgrims visiting Tuljapur taluka in Osmanabad district of Maharashtra.

As many as 116 new projects worth Rs 20,002.2 crore were announced in the Real Estate sector. Two significant projects were announced by Rajapushpa Properties, each with an investment of Rs 2,775 crore, to develop High Rise Residential Complex at Tellapur in Medak district, Telangana.

The Water & Irrigation sectors saw 86 new projects worth Rs 7,692.78 crore being announced. Chennai Metropolitan Water Supply & Sewerage Board (CMWSSB) plans to invest Rs 1,958.25 crore to implement a Drinking Water Supply Scheme for various areas in Chennai district, Tamil Nadu. The CMWSSB.

Marubeni India announced plans to develop a Rs 10,000 crore Hi-Tech Industrial Park at Bavanahalli near Vemagal in Kolar district, Karnataka. The project would spread over 720 acres of land, and the necessary land has already been identified for the project.

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