NEW DELHI:
The Udhampur-Srinagar-Barmulla railway project has been delayed by over 16 years which would result in cost overrun of Rs 17,065 crore, Parliament was informed today.
The project is now expected to be completed by December 2018, in place of November 2002 as the initial commissioning target for the entire rail line, revealed a written reply on delayed projects to Lok Sabha by Statistics Minister V K Singh.
According to the statement, the cost of the project was estimated at Rs 2,500 crore when it was approved in March 1995. Now the cost has escalated to Rs 19,565 crore with expected commissioning in December 2018.
An expenditure of Rs 10,205.04 crore has been incurred on the project so far.
Similarly, many projects costing more than Rs 150 crore each, are delayed due to various reasons including law and order problems, delay in land acquisition and environment and forest clearances, fund constraints and contractual issues, as per the minister’s reply.
Statistics Ministry is monitoring 738 central sector projects costing Rs 150 crore or more. As on January 1, 2015, 315 such projects in sectors including rail, road, power and civil aviation were showing time and cost overrun. (AGENCIES)
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