Mumbai: Over 60 investment projects, costing Rs 80,338 crore, have been stalled during the last 12 months. Of these projects, 42 projects amounting to Rs 62,389 crore were in the private sector, including nine projects (Rs 23,657 crore) with foreign participation. The other 18 projects (Rs 17,949 crore) are central or state government projects.

A latest investment survey conducted by the Mumbai-based Centre for Monitoring Indian Economy (CMIE) shows that the power sector has been the worst-affected with 17 electricity distribution projects amounting to Rs 40,943 failing to take off.

The most-affected state was Maharashtra, followed by Karnataka and Orissa. In Maharashtra 14 projects (Rs 26,141) have been stalled in the last 12 months. While six projects of Rs 18,700 crore were stalled in Karnataka, four projects (Rs 8,092 crore) failed to take off in Orissa.

Among the projects stalled in Maharashtra include the Dabhol Power Phase II project (Rs 8,150.80 crore), Central India Power Companys Rs 4,636-crore Bhadrawati project, National Organic Chemical Industries petrochemical project (Rs 5,000 crore) at Thane and the Rs 1,650-crore Patalganga power project, promoted by Reliance Power.

Other big projects to be stalled in the country include National Thermal Powers Rs 8,000-crore Mangalore power project, Bhushan Steel and Strips Rs 6,000-crore HR-coil project at Bellary and Videocon Powers Rs 4423.80-crore power project at Athupatty, Tamil Nadu.

The rate of implementation of projects has remained stagnant at 42 per cent. Projects with an aggregate investment of Rs 6,21,115 crore were under implementation as on October 2001. The manufacturing sector accounted only for 18 per cent of the investments under implementation, while infrastructure services and the electricity sector had a share of 34 and 36 per cent respectively.

The CMIE survey of investment projects, which has covered 5,312 projects, has indicated that a total investment worth Rs 15,63,773 crore was implemented at different stages in India a rise of 12 per cent compared to such investments made a year ago. The rise was mainly due to higher fresh investments in computer software, roadways, commercial complexes and distribution sectors and minerals. And in the last 12 months, 106 projects (Rs 7,214 crore) were completed.

Gujarat continues to attract more investments, with Rs 171,776 crore investments under the states fold. Maharashtras rank has slipped to the second position (Rs 170,522 crore), followed by Andhra Pradesh (Rs 162,456 crore). Among the newly-formed states, Chattisgarh totalled an investment of Rs 25,382 crore, Jharkhand with Rs 24,503 crore and Uttaranchal with Rs 16,911 crore.