Govt panel gives nod for 7 infrastructure projects worth Rs 9,672 crore

The Public Private Project Appraisal Committee (PPPAC) and the Empowered Committee (EC) both chaired by Secretary, Department of Economic Affairs Secretary have approved 7 infrastructure projects in road and port sectors envisaging an investment of Rs 9,672 crore. The committees together have cleared 6 road projects and 1 ports sector project.

The projects include 4 National Highway projects, one each in the state of Maharashtra and Himachal Pradesh and two projects in the state of Uttar Pradesh and one port project in the state of Goa cleared by the PPPAC. Besides, the two road projects in Uttar Pradesh have been cleared for Viability Gap Funding (VGF). Under the VGF government support is provided to the infrastructure projects to make them viable and bankable. Public Private Projects (PPP) implemented by Infrastructure Ministries and departments of Central Government and PPP Projects of departments of State and Central Government seeking Viability Gap Support (VGF) from Central Government are cleared by institutional mechanisms.

In the year 2005, the Cabinet Committee on Economic Affairs (CCEA) has approved the procedure for approval of PPP projects. Following to this decision, PPPAC was been set up. The committee is serviced by the Department of Economic Affairs, who sets up a special cell for servicing such proposals.