PMG intervention resolves 137 projects worth Rs 4.8 lakh cr

The intervention by the seven month old, high-profile Project Monitoring Group (PMG) under the Prime Minister's Office, has resulted in resolution of projects valued at Rs 4,80,000 crore.
"Out of 419 projects which have been put before the PMG, we have been able to resolve all issues for 137 projects worth Rs 4,80,000 crore," PMG chairman Anil Swarup said here today on the sidelines of a CII organised meeting.
He said of the 137 projects, investment details of 84 projects worth Rs 3,71,000 crore have been received and Rs 3,10,000 crore has been invested.
The PMG reviews the status of projects worth Rs 1,000 crore or more to put mega industrial and infrastructure projects by private companies, government and PSUs on the fast track.

He said with its intervention, fuel supply agreement for 70,000 MW has been signed for 78,000 MW decided by the PMO.
Swarup promised assessments on two levels - Centre and state - to fast-track complaints to a logical conclusion.
He said 40 per cent of the 1190 issues pointed out by investors, related to environment, while another major issue was coal which has been sorted out.
Asked whether PMG was compromising on regulations to fast rack the projects, Swarup said, "We are not pushing for compromise. We want to expedite the decision-making process of the concerned departments for the pending projects.