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New projects announced crosses 1,000 mark after span of 78 months

Thursday, 12 Oct 2017
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After a span of 78 months, the number of new projects announced in a month crossed the thousand mark in September 2017.

The month saw announcements of 1,055 new projects worth Rs 90,246 crore. Of these, 673 projects worth Rs 67,577 crore were greenfield projects; 348 were plant modernisation projects; and 34 were capacity expansion projects.

National Highways Authority of India (NHAI) announced a total of 168 projects in September 2017, out of which 155 projects were announced with a total length of 9,980 km under Bharatmala Pariyojana.

When compared to the same period in 2016, in terms of value, a huge growth was seen in the electricity sector. The electricity sector has a jump of over sixfold from Rs 5,951 crore to Rs 32,337 crore.

The sector saw a couple of high ticket projects in September 2017. Two coal-based super critical thermal power projects of 2,400 MW (3x800 MW) each, entailing an investment of Rs 14,400 crore by Punjab State Power Corporation at Guru Gobind Singh Super Thermal Power Plant in Punjab, and by NLC India in Odisha respectively, were the largest projects announced in September 2017.

The month also saw announcement of India’s first hyperloop project from Amaravati to Vijayawada in Andhra Pradesh. The project worth Rs 1,282 crore saw signing of an MoU between Andhra Pradesh Economic Development Board and Hyperloop Transportation Technologies (HTT).

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