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Thursday August 20, 08:30 PM
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Cabinet approves $18.7 mln infra projects
NEW DELHI (Reuters) - India on Thursday approved port and mine projects worth 9.1 billion rupees ($18.7 million), a minister said, as the country aims to speed up infrastructure development to lift economic growth.
The cabinet committee on infrastructure approved the development of four multi-purpose cargo berths at Kandla Port in Gujarat at a cost of 7.56 billion rupees, Urban Development Minister Jaipal Reddy said.
The panel also approved a 1.54 billion rupees to expand capacity at Rajmahal coal project of Eastern Coalfields Ltd, which would enable it to supply up to 17 million tonnes of coal from present capacity of 10.5 MT, mainly to NTPC.
India has ambitious plans to ramp up its infrastructure spending to $500 billion for the five years ending March 2012.
