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Construction : Web Exclusive | July 2013 | Source : Construction Update

Cabinet clears Rs 10 bn outlay for industrial infra projects

The Cabinet Committee on Economic Affairs approved the Modified Industrial Infrastructure Upgradation Scheme (MIIUS) with an approved outlay of Rs 1,030 crore for the 12th Five Year Plan period.

The outlay consists of Rs 450 crore for committed liability and the remaining Rs 580 crore for taking up 14 to 16 new projects including a minimum 2 projects in the North Eastern Region (NER) for upgradation of infrastructure in existing or greenfield industrial clusters.

The CCEA further approved that at least 10 percent outlay will be set aside for the minimum two projects in the NER.

All states are covered under the scheme. However projects are likely to be undertaken in only 14 to 16 states or districts owing to limitation of outlay in the 12th Plan.

After notification of the MIIUS, the Project Management Agency (PMA) would be appointed. The PMA will assist the Department of Industrial Policy & Promotion (DIPP) in appraisal of project proposals and also, in monitoring of projects.

Project proposals would be invited through advertisements in two national dailies; the proposals received would be scrutinized with the help of the PMA and these would be brought before Apex Committee for `in-principle` approval.

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