Mumbai: New project investment proposals received by India Inc in Q4 FY 08 stood at Rs5,58,333 crore, the highest ever according to the Centre for Monitoring Indian Economy CapEx database.
This shows an impressive 90% increase over the proposals announced a year ago, the CMIE report said.
The robust increase in intentions for investments reflects the corporate sector’s efforts to expand manufacturing capacity.
Currently, the country is confronted with capacity constraints in several manufacturing segments.
Electricity generation attracted maximum Rs2,05,088 crore worth of new investment proposals, which shows a robust 105% increase over Rs99,590 crore a year ago.
The new investment proposal in manufacturing sector stood at Rs1,88,056 crore. The refinery and steel sector witnessed new investment proposals of Rs65,000 crore and Rs60,569 crore respectively, while aluminium attracted proposals worth Rs15,810 crore in quarter ended March 2008, the CMIE said.
Among the major new investment projects announced in March 2008 include Chennai Petroleum Corporation’s Rs45,000 crore refinery and petrochemical project at Ennore, Indian Railways Delhi-Amritsar bullet train project worth Rs26,000 crore, Sterlite Iron and Steel’s five million tonne steel project at Orissa worth Rs24,000 crore, NTPCs 3,200 MW mega thermal power project worth Rs18,000 crore at Sundargarh in Orissa and Balco’s Rs14,000 crore thermal power project at West Bengal.