Tamil Nadu pips Narendra Modi's Gujarat to top spot in CMIE's CapEx ranking

May 12 2014, 11:51 IST
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As project completions lag, Tamil Nadu, six others buck trend. As project completions lag, Tamil Nadu, six others buck trend.
SummaryTamil Nadu records completion of investments worth Rs 26,430 cr in FY14, displacing Gujarat from top slot.

1,097 MW was in the thermal sector. NTPC Tamil Nadu Energy Company Ltd completed the Rs 3,090 crore MW Vallur Phase II thermal power project in February 2014 entailing a capacity of 500 MW. Tamil Nadu Generation and Distribution Corporation Ltd had commissioned the 600 MW Unit 1 of North Chennai Thermal Power Generating Unit project, worth Rs 5,800 crore in June 2013.

Alongwith the power sector, Tamil Nadu also topped the list of investment completions in the services sector. As many as 70 projects were completed in the services sector of Tamil Nadu, entailing investment to the tune of Rs 9,170 crore. Of these, 29 projects were in the transport sector, with an investment of Rs 3,740 crore. These were mainly road projects undertaken by the state government. This was followed by completion of investments worth Rs 3,290 crore in the storage and distribution sector.

Other key projects include the Hogenakkal Water Supply and Fluorosis Mitigation Project that was completed in May 2013. The

Rs 1,930-crore project envisages supply of drinking water to the districts of Krishnagiri and Dharmapuri from the Cauvery river. Hindustan Petroleum Corporation Ltd’s Ennore Terminal Project, which was completed in March 2014, was another major project.

As per CMIE’s CapEx database, Tamil Nadu has investments worth Rs 91,620 crore scheduled for completion in FY15. Of these, nearly 48 per cent are from the power sector. The state is expected to again top the list with maximum investment completions of Rs 43,720 crore in the power sector.

This includes Nuclear Power Corporation of India Ltd’s Kudankulam Atomic Power Project, entailing an investment of Rs 17,270 crore. Generation from the 1,000 MW Unit 1, which was synchronized in October 2013, is expected to begin early this fiscal. The second unit of 1,000 MW is expected to be commissioned by May 2014 and generation is likely to start by December 2014.

POWER, FACTORY DOMINATE

* Completion of projects is the most meaningful indicator of investment sentiment when the funds transform into productive assets and create jobs

* In FY14, Maharashtra retained second position for third consecutive year with completion of investments worth R24,240 crore

* Karnataka stood third while Gujarat was down to fifth place

* In Tamil Nadu, the highest share in total completed investments worth R26,340 crore was taken by the power sector followed by services

* Investments in Gujarat and Karnataka were driven by manufacturing sector while in Maharashtra, the services sector was on top

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