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Fresh investments slip in November
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After registering astronomical volumes in October 2010, new project investment fell drastically in November 2010. During the month, 663 startups were announced with a cumulative investment of Rs. 20,316 crore, as compared with 827 projects with an envisaged outlay of Rs. 131,722 crore in October. All three major sectors - manufacturing, electricity and services & utilities saw drastically lower levels in new projects activity in terms of capital outlay during the month, relative to October. More worryingly, the level of start-ups also indicated reversal of acceleration particularly in terms of envisaged outlay that had increased from Rs. 20,792 crore in July to Rs. 26,308 crore in August; followed by two-fold mount to Rs. 75,202 crore September and a 75 per cent bulge in October.
Because of the suboptimal new project activity during the month, not against only that in October 2010 but also against the same in November 2009, the fresh project investment indicated 31.95 per cent drop during April-November 2010, relative to the similar period of 2009-10. Even the total number of startups announced during the first eight months of the current fiscal, stood 14.83 per cent lower as compared with the startups during the corresponding period of the preceding fiscal. The Services & Utilities Sector was the major contributor in start-ups as it attracted Rs. 10,951 crore of investment, more than half of the total investment announced during the month. Of the total investments proposed in the sector, a big chunk has been contributed by the Roadways. During the month, NHAI has announced taking up nine road upgradation projects.
Some of the new NHAI road projects are
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Two laning with paved shoulders of NH-233 from 121.80 km (Basti side abutment of New Ghahgra Bridge) to 298.90 km (Varanasi) with maintenance of Ghahgra Bridge in Uttar Pradesh under NHDP-IVB on DBFOT on toll basis
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Four-laning of Maharashtra/Karnataka Border - Sangareddy section from 348.00 km to 493 km of NH-9 (from 348.00 km to 423.800 in Karnataka and from 423.800 km to 493.00 km) in Andhra Pradesh on BOT (Toll) basis under NHDP-Phase IV
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Two-laning with paved shoulders of Aligarh - Moradabad section, NH-93 from 85.00 km to 232.00 km in Uttar Pradesh on DBFOT basis under NHDP Phase-IVB
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Two-laning with paved shoulders of NH-233 from 0.0 km (Khakarhawa on India/Nepal Border) to 121.80 km at Tanda (Basti side abutment of New Ghahgra Bridge) in Uttar
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Pradesh under NHDP-IVB on DBFOT on toll basis The Electricity Sector, one of the growth drivers of October 2010 went through a lull during November 2010. A number of power projects were announced during the MP Global Investors Summit 2010 conducted around end-October 2010. However, the investment intentions of these projects have not been disclosed.
Major power projects announced during the month are
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Sew Thermal Power Corporation plans to set up a 1,320 MW (2 x 660 MW) coal based power unit in Seoni district of Madhya Pradesh.
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Jhabua Power, a part of the Avantha Group intends to set up a 1,200 MW (2 x 600 MW) coal based power unit at Barela Gorakhpur, Ghansor in Seoni district of Madhya Pradesh.
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PFC is setting up a 1,000 MW gas based power unit at Keshoraipatan in Bundi district of Rajasthan under 'Case 2'.
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Vadinar Power Company, part of the Essar Group, plans to set up a 510 MW gas based power unit (Phase-II) at Vadinar in Jamnagar district of Gujarat. The project consists of a multi-fuelled (coal, naphtha, light cycle oil, clarified slurry oil and furnace oil) power unit, comprises 325 MW power generation capacity and 900 tph steam.
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In the Real Estate sector, the Union Ministry of Defence is planning to develop residential accommodation for the Indian Army in Ferozepur district of Punjab. The project to be spread over 197 acre, comprises 380 buildings of 2,236 dwelling units with various modern amenities. In November 2010, the ministry awarded the construction contract worth Rs. 210 crore to Kolkata based Dhoot Industries.
National Rural Health Mission, Kerala, in its bid to improve the availability of and access to quality health care by people, especially for those residing in rural areas of the state, the poor, women and children is taking up various projects. The projects include construction of District Hospitals at Kollam and Palakkad, General Hospitals at Kannur and Thiruvananthapuram etc. Likewise, Karnataka Government is planning to develop nine community health centres across the state.
In the Irrigation sector, 28 new projects were announced across six states - Chhattisgarh, Karnataka, Orissa, Madhya Pradesh, Jharkhand and, Andhra Pradesh - during the month. All these projects are being undertaken by the respective state governments.
In the SEZ sector, Suryo Infra Projects intends to develop an IT SEZ over 25 acre at Chandaka, Bhubaneswar in Khurda district of Orissa. While the pub lic sector accounted for about 52.65 per cent of the total investment proposed during the month, the private sector was little behind with 47.35 per cent share.
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