FM assures clearance of AP infra bottlenecks
Updated: May 15, 2013 04:26:39pm
Hyderabad, May 14 (KNN): In an attempt to revive stalled infrastructure projects, Union Finance Minister P Chidambaram visited Bengaluru and Hyderabad to receive a first-hand account of problems faced by industrialists in the two states.
Expressing appreciation for his hands-on approach, “The finance minister has come down here to hear from us. He patiently heard about all the 28 projects, which are facing delays, from representatives of 10 companies. He assured full support from the government to put projects on fast track,” Chairman of Lanco Group P Madhusudhan Rao told KNN correspondent.
The 10 promoters who attended the meeting in Hyderabad include those from Lanco Group, Ramky Group, IVRCL Infrastructure, Ind-Barath Power Infra Ltd, GVK Power, East Coast Energy, Konaseema Gas Power, Soma Infrastructure among others.
According to Andhra Bank chairman, the total cost of the 28 projects is Rs 92,000 crore. Of this, the bank funding would be to the tune of Rs 69,000 crore and the rest is equity.
He further said that Chidambaram had promised to set up a special cell in his office to ensure that the issues raised by companies were addressed.
As many as 341 projects have been stalled or delayed for various reasons such as difficulties in land acquisition, delay in coal linkages, shortage of gas, forest and environmental clearances, delay in signing power purchase agreements and inability to raise funds to kick start the project.
“Though he knows about the macro economic conditions, Chidambaram has asked us to apprise him of local or sector-specific bottlenecks that are delaying the projects,” Lanco chairman said.
Earlier in the day, Chidambaram met bankers, including those from Canara Bank and Syndicate Bank as well as industrialists in Bengaluru. (KNN)
Expressing appreciation for his hands-on approach, “The finance minister has come down here to hear from us. He patiently heard about all the 28 projects, which are facing delays, from representatives of 10 companies. He assured full support from the government to put projects on fast track,” Chairman of Lanco Group P Madhusudhan Rao told KNN correspondent.
The 10 promoters who attended the meeting in Hyderabad include those from Lanco Group, Ramky Group, IVRCL Infrastructure, Ind-Barath Power Infra Ltd, GVK Power, East Coast Energy, Konaseema Gas Power, Soma Infrastructure among others.
According to Andhra Bank chairman, the total cost of the 28 projects is Rs 92,000 crore. Of this, the bank funding would be to the tune of Rs 69,000 crore and the rest is equity.
He further said that Chidambaram had promised to set up a special cell in his office to ensure that the issues raised by companies were addressed.
As many as 341 projects have been stalled or delayed for various reasons such as difficulties in land acquisition, delay in coal linkages, shortage of gas, forest and environmental clearances, delay in signing power purchase agreements and inability to raise funds to kick start the project.
“Though he knows about the macro economic conditions, Chidambaram has asked us to apprise him of local or sector-specific bottlenecks that are delaying the projects,” Lanco chairman said.
Earlier in the day, Chidambaram met bankers, including those from Canara Bank and Syndicate Bank as well as industrialists in Bengaluru. (KNN)
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