70 plans worth Rs 62,000 crore were either stalled or abandoned in the year
Project investments were up 5.7 per cent in fiscal 2002-2003 at Rs 18,06,977 crore involving 7, 273 projects compared with the previous fiscal.
In fiscal 2002-2003, however, 70 projects entailing a total investment of Rs 62,000 crore were either stalled or abandoned, which included the Rs 12,400 crore Paradip Refinery project by the Indian Oil Corporation and the Rs 5,000 crore Mangalore power project.
These are the main findings of a survey of project investments conducted by the Mumbai-based Projects Today.