Updated March 1st, 2024 at 13:09 IST

PM Modi to launch, lay foundation stone for projects worth Rs 1.64 lakh crore

Out of 39 projects PM will inaugurate 29 projects with a Capex of Rs 80,000 crore and lay the foundation stone for 10 projects worth more than Rs 60,000 crore.

Reported by: Abhishek Vasudev
PM Narendra Modi | Image: X/ BJP4India
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New projects in Bihar: Prime Minister Narendra Modi will dedicate and lay the foundation stone for projects worth Rs 1.64 lakh crore on March 2, Saturday in Bihar, government officials told Republic Business in New Delhi. These investment projects lay an important focus on energy, fertilisers, infrastructure and rail connectivity.

In the petroleum sector, a total of 39 projects costing Rs 1.49 lakh crore will be inaugurated or foundation stones being laid.

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Out of 39 projects PM Modi will inaugurate 29 projects with a Capex of Rs 80,000 crore and lay the foundation stone for 10 projects with an outlay of more than Rs 60,000 crore.

"This financial infusion is set to revolutionise the petroleum industry, accelerating advancements in infrastructure, boosting production capabilities and enhancing the overall efficiency of energy networks," the official said.

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The PM will dedicate 'First Oil' from KG Basis which was produced on January 7, 2024, and will flag off the first crude oil tanker from the ONGC Krishna Godavari deepwater project to MRPL Mangalore, Karnataka, marking a historic achievement in India's energy sector.

The project is likely to increase ONGC's oil and gas production by 11 and 15 per cent respectively.

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The PM will also inaugurate the Visakh Refinery Modernisation Project to enhance the capacity of the Visakh Refinery at Visakhapatnam.

Apart from the petroleum sector, PM Modi will also flag off six trains and inaugurate the Narkatiaganj-Gaunaha gauge conversion. The project is part of the Jaynagar-Darbhanga-Narkatiaganj-Bhitkhnathori gauge conversion project. The project will help in increasing the connectivity of Narkatiaganj with a border of Nepal in the West Champaran district.

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The PM will also dedicate Raghopur- Forbesganj gauge conversion and Hajipur -Bachhwara doubling.

A total allocation of Rs 10,032 crore has been made in the Budget for railway projects in Bihar. 

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PM Modi will also inaugurate the Barauni Fertiliser Plant which has been developed at a cost of Rs 9,512 crore. The unit will have a capacity of producing 12.7 lakh MTPA of urea and will be managed by HURL.

 

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Published February 28th, 2024 at 19:05 IST