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The Chennai Metro Rail Corridor, Phase-II project which was announced in February 2014, was the largest project reported in Jan-March (Q4) of 2013-14 (FY14). The project was also the largest project announced in this fiscal. The Rs 36,000 crore project envisages development of a 76 km metro line, consisting of three underground corridors.
Indian Oil Corporation’s Rs 7,600 crore petrochemical complex at Paradip, in Orissa, was another notable project announced during this quarter. Santhiram Ren-energy also announced a 1,000 MWp solar photovoltaic power project to be developed in Kurnool district of Andhra Pradesh. Central Coalfields announced an open cast mining project in Bokaro district of Jharkhand.
In all, 2,054 fresh projects worth Rs 1,59,295 crore were announced in Q4 of FY14. As compared to the 2,088 new projects worth Rs 1,20,095 crore announced in Q4 of 2012-13, there has been an increase of 25 per cent in fresh projex in the last quarter. Among the major sectors, the Services & Utilities (Infrastructure) sector saw 1,752 projects worth Rs 1,11,315 crore being announced. It was followed by the Manufacturing sector with 172 projects worth Rs 26,810 crore, and Power with 58 projects worth Rs 11,189 crore.
Ownership-wise, 1,447 projects worth Rs 1,14,740 crore, i.e. about 70 per cent of the total projex reported in the quarter, were owned by government agencies. Of this, 158 projects worth Rs 42,658 crore were by the central government, while the rest were by the state government agencies. Private sector accounted for 607 projects worth Rs 44,554 crore.
State-Wise
Tamil Nadu attracted the maximum amount of fresh investment during the quarter. The 120 new projects will bring in Rs 39,932 crore of investment into the state. Other than the Chennai Metro Rail Phase-II project, some notable projects announced in the state include a Rs 700 crore residential project by Tata Value Homes, a 50 MW coal-based power by India Power Partners, and a Rs 425 crore passenger buses manufacturing unit by Daimler India Commercial Vehicles.
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FreshProjex: Jan-March 2014 (In Rs.Crore) |
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Tamil Nadu is followed by Orissa with 124 projects worth Rs 14,089 crore and Andhra Pradesh with 156 projects worth Rs 13,830 crore. Assam also managed a place in the top ten chart on account of the 16 road projects announced in the state. The Ministry of Road Transport & Highways (MoRTH) has announced a Rs 2,750 crore, 40.95 km long bridge project.
Stalled & Abandoned Projects
Several mega projects were stalled or abandoned in Q4 of FY14, mostly owing to land acquisition issues and non-availability of fuel supplies. Tata Steel’s coal-to-liquid fuel project in Orissa was stalled due to delay in receiving a prospecting licence deed from the state government. The Rs 45,000 crore coal-liquifying project was supported by a 1,100 MW coal-based power unit. AHW Steels three million tpa cement project was kept on hold as the company failed to secure mines from the state government. The Rs 1,200 crore project was to come up in Kachchh district of Gujarat.
Mumbai Metropolitan Region Development Authority (MMRDA) shelved the 30 km Thane-Bhiwandi-Kalyan monorail project citing low ridership estimates and the availability of cheaper road transport alternatives. The Rs 3,750 crore project was to be developed on PPP basis. NTPC’s Gidderbaha Coal-Based Power Project in Punjab was dropped due to land acquisition issues. Mumbai Railway Vikas Corporation's Kurla-Dadar-CSTM V Railway Line project was cancelled in February 2014, due to lack of funds and land issues.
Completed Projects
The Q4 also saw completion of 162 projects worth Rs 52,311 crore. These include the Mumbai Airport Modernisation Project which was completed in February 2014. The project involved modernisation of the existing Mumbai International Airport by adding a new integrated passenger terminal (T2) and a new Air Traffic Control (ATC) Tower.
Among the other notable projects commissioned in Q4 were Adani Power Rajasthan’s 1,300 MW coal-based power project at Kawai, in Baran district of Rajasthan, and Honda Siel Cars India's (HSCI's) Rs 3,526 crore capacity expansion at Alwar, in Rajasthan.
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