13 Infra Projects See 15.72% Cost Overrun
They have been completed recently; 1,792 major projects currently underway, with a projected cost overrun of 20.9%
13 Infra Projects See 15.72% Cost Overrun
New Delhi: Thirteen major infrastructure projects were completed in September with a total cost of Rs 8,422.18 crore, whereas the original cost was Rs 7,277.78 crore. This meant cost overruns of 15.72 per cent.
At present, work is in progress on 1,792 major infrastructure projects - that is, projects worth Rs 150 crore or more. They are expected to get completed at a total cost of Rs 3,332,647.33 crore, which is 20.9 per cent more than the originally envisaged Rs 2,756,378.31 crore, official sources told Bizz Buzz.
Out of 1,792, there are 629 mega projects - that is, the ones with an investment of Rs 1,000 crore or more. The investment originally anticipated on these was Rs 2,240,975.5 crore, or 81.3 per cent of the total estimate in the beginning.
The most number of projects, 1,045, are under the Ministry of Road Transport & Highways, which were expected to cost Rs 805,434.78. Owing to cost overruns, however, these are likely to incur a total expenditure of Rs 854,353.97 crore.
Railways have 232 projects, which were estimated to cost Rs 430,032.59 at the time of inception. At present, it is anticipated Rs 682,562.58 crore be needed to complete them.
In September, 21 new major infrastructure projects were added to the list with a total expenditure of Rs 24,952.51 crore. Of these, two are in Andhra Pradesh. One is a unit of Hindustan Petroleum worth Rs 193 crore. This is expected to be completed by July 2027. The other one is a Rs 164-crore power project at Kurnool. This is for augmentation of 1,500MVA 3rd 765/400KV transformation capacity. It is under Power Grid Corporation of India.
Of all the 1,792 major infrastructure projects, 641 have reported physical progress between 80 and 100 per cent. Of these, 425 are road projects and 54 of Railways.
In the North-East region, which is a major focus area of the government, there are 229 major infrastructure projects with originally and currently anticipated costs of Rs 181,870.86 crore and Rs 251,206.5 crore, respectively.
