PM sets Rs 1.15 lakh cr investment target for PPP projects

July 30, 2013

PTI

NEW DELHI, JUNE 28:

In a bid to ramp up investor sentiment, Prime Minister Manmohan Singh today set an investment target of Rs 1.15 lakh crore in PPP (public private partnership) projects across infrastructure sectors in rail, port and power in the next six months.

The proposals include Mumbai elevated rail corridor (Rs 30,000 crore), two international airports in Bhubneshwar and Imphal (Rs 20,000 crore) and power and Transmission projects (Rs 40,000 crore).

The decisions were taken at a meeting Prime Minister held here to finalise infrastructure projects for 2013—14 which was attended by Finance Minister P Chidambaram, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Ministers of Power, Coal, Railways, Roads, Shipping and Civil Aviation.

The meeting decided that the proposal for creating a rail tariff authority will be accelerated and brought before the Cabinet soon.

The Prime Minister highlighted the need for ramping up investment in infrastructure to revive investor sentiment.

“For this purpose, a target of rolling out PPP projects of at least Rs 1 lakh crore in the next six months was set. A steering group is being formed to monitor the award and implementation of projects on priority basis,” said a PMO release.

(This article was published on June 28, 2013)

Source-http://www.thehindubusinessline.com