FM proposes to set up 5 new ultra-mega power projects

The Government plans to set up five new ultra mega power projects, each of 4000 MW in the plug-and-play mode. Presenting the General Budget 2015-16, finance minister Arun Jaitley stated that all clearances and linkages will be in place before the project is awarded by a transparent auction system. Investments of about Rs 1 lakh crore are estimated for these projects. Jaitley said the Government would also consider similar plug-and-play projects in other infrastructure projects such as roads, ports, rail lines , airports etc. The Finance Minister announced that the second unit of Kudankulam Nuclear Power Station will be commissioned in 2015-2016.