Stung by the dilly dallying procedural bottlenecks in the project clearance mechanism, the Cabinet Committee on Investment (CCI) has decided to approve a proposal for allowing fast-track security clearance to port projects and review the progress of highway projects in the country. In this connection, the committee is approving security clearance for the seaports. Earlier this year, the government unveiled new norms under which security clearances granted to a company would be valid for three years. Under the norms, it is mandatory for the company to inform the Shipping Ministry about any changes in the management control and more than 10% change in the shareholding by any shareholder within two weeks. The government plans to increase the country's port capacity to three billion tonnes from the present one billion tonnes. This would involve an investment of Rs 3 lakh crore by 2020, according to the Ministry's maritime agenda for 2020. Road Ministry, on the other hand, has fixed a target of giving 9,000km of projects in 2013-14. According to the plans more than 50% of the projects will be taken up on Engineering Procurement Construction (EPC) mode. In the year 2011-12, the road sector's performance was abysmal as award of projects declined to 1,933kms from the targeted 9,500km and is hopeful of completing 4,500km of road length during the current year, they added.
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