In a major push to the infrastructure sector, the Cabinet on Wednesday cleared projects worth around Rs 34,000 crore, including the Chennai Metro project.
Apart from that, foreign direct investment (FDI) worth Rs 957 crore in Krishnapatnam Port Company Ltd, which is currently developing the Krishnapatnam port in Andhra Pradesh, was also approved.
The Union Cabinet yesterday gave its approval to Phase I of the Chennai Metro project, covering a length of around 45 km. The total cost of the first phase has been estimated at Rs 14,600 crore. On the lines of Delhi Metro, this project will be entirely funded by the Centre and Tamil Nadu government on 50:50 basis.
The Cabinet also approved the Delhi Metro Railways (Amendment) Bill, 2009, to amend the Delhi Metro (Operation and Maintenance) Act, 2002, and the Metro Railways (Construction of Works) Act, 1978. “The requirement to move this Bill arose because without a proper legal framework the construction work of the extension to Gurgaon and Noida can be stalled any time or legally challenged. Since these extensions are to be completed before the Commonwealth Games, 2010, there is an urgency to provide an appropriate legal cover for these extensions,” said an official statement.
The Cabinet Committee on Economic Affairs (CCEA) yesterday approved highway projects worth around Rs 19,000 crore, including the six-laning of nine stretches under Phase V of the National Highways Development Project (NHDP). The projects stretching to 1409.93 km, which will be built on the Design, Build, Finance, Operate and Transfer (DBFOT) basis, include stretches like the Delhi-Agra, Kishangarh-Udaipur and Vijayawada-Elluru-Rajahmundry among others.
The CCEA also approved the four-laning of the Vijayawada-Machilipatnam section of NH-9 in Andhra Pradesh under Phase III of the NHDP on BOT/DBFOT basis.
