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CCI clears infrastructure projects worth Rs 58,000 crore

23 Apr 2013 Evaluate

In a major boost to the infrastructure sector, the government has cleared various infrastructure projects in the power and the oil and gas sectors, entailing investments worth around Rs 58,000 crore.

In the oil and gas sector, the Cabinet Committee on Investment (CCI) cleared 25 exploration and production blocks worth around Rs 25,000 crore for continued exploration of oil and gas, out of 31 blocks, which had been stalled by the defence ministry on account of security restrictions 9 blocks have been fully cleared and 16 blocks have been cleared with specific conditions’ the government said. The 31 blocks included 13 of Reliance Industries-BP combine, 15 of state-owned Oil and Natural Gas Corp (ONGC) or its lead consortium, two blocks of Santos of Australia and one block of Cairn India-led consortium.

The defence ministry had imposed strict conditions for these oil blocks such as requiring companies not to locate any pipelines or structures on the sea surface in the blocks cleared for exploration and production activities. Also, subsea/submerged permanent structures were to be located more than 100 metres below sea surface or outside the Defence Research and Development Organisation (DRDO)/ Indian Air Force (IAF) danger zone area.

Besides, the government has also approved 13 power projects out of the 20 projects, freeing up an investments around Rs 33,000 crore, which were stuck due to various reasons like green clearance. These 13 projects include 10 transmission, one hydro and two thermal projects.

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