A report has said India lost over a trillion rupees worth of investments in the last week of April because seven large projects that were announced earlier were abandoned.
The report in capex.cmie.com said this includes loss of USD 12 billion mega steel project by Korean steel giant, POSCO.
It said the Central Electricity Authority (CEA) banned the construction of new thermal power plants and this led to the abandoning of Andhra Pradesh Power Generation Corpn’s (APGENCO) 4,000 mw Srikakulam Super Critical Coal-based thermal power project.
Also, pointing out to a Hindu Business Line report, it said that NLC India (formerly Neyveli Lignite Corpn) has decided to abandon its proposed 4,000 mw coal-based power plant at Sirkali in Tamil Nadu.
The value of this abandoning of projects during the last week of April is higher than the value of abandoning of projects in any quarter, it said.
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