Prime Minister Narendra Modi will dedicate and lay the foundation stone for projects worth Rs 1.64 lakh crore on March 2, in Bihar, government officials told Moneycontrol.
These projects, spanning various sectors such as petroleum, natural gas, railways, and fertilizers, underscore the Union government's commitment to infrastructure development and enhancing the quality of life for citizens, they said.
In the petroleum sector, a total of 39 projects costing Rs 1.49 lakh crore are being inaugurated, or foundation stones being paid.
Out of 39 projects, PM Modi will inaugurate 29 projects with a capex of Rs 80,000 crore and lay the foundation stone for 10 projects with an outlay of more than Rs 60,000 crore.
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A senior government official said that projects are poised to revolutionize the petroleum industry, with a focus on accelerating infrastructure advancements, boosting production capacities, and enhancing energy distribution networks.
"This financial infusion is set to revolutionise the petroleum industry, accelerating advancements in infrastructure, boosting production capabilities and enhancing the overall efficiency of energy networks," the official said.
A highlight of the petroleum sector projects is the inauguration of ONGC's Cluster-2 KG-DWN-98/2 project, a historic milestone in India's energy sector.
The PM will dedicate 'First Oil' from KG Basin, which was produced on January 7, and will flag off the first crude oil tanker from the ONGC Krishna Godavari deepwater project to MRPL Mangalore, Karnataka, marking a historic achievement in India's energy sector.
The project is likely to increase ONGC's oil and gas production by 11 and 15 percent, respectively.
With the commencement of 'First Oil' production from the KG Basin and the flagging off of the first crude oil tanker, the project promises to significantly reduce the nation's energy import dependency.
Additionally, projects such as the Visakh Refinery Modernization Project and Mumbai High North Redevelopment Phase IV underscore India's strides towards energy self-sufficiency and sustainability.
In Bihar, the inauguration of the Hindustan Urvarak & Rasayan Limited (HURL) plant at Barauni, with an investment of Rs 7,042 crore, is poised to transform the agrarian landscape.
The unit will have a capacity of producing 12.7 lakh MTPA of urea.
Another government official said that this facility will provide farmers with a steady supply of urea, thereby reducing input costs and enhancing crop yields.
Additionally, significant railway enhancements, with projects worth Rs 4,742 crore, will improve connectivity and infrastructure in the state, further boosting economic growth and livelihood opportunities.
PM Modi will also flag off six trains and inaugurate the Narkatiaganj-Gaunaha gauge conversion. The project is part of the Jaynagar-Darbhanga-Narkatiaganj-Bhitkhnathori gauge conversion project. The project will help in increasing the connectivity of Narkatiaganj with a border of Nepal in the West Champaran district.
The PM will also dedicate Raghopur- Forbesganj gauge conversion and Hajipur -Bachhwara doubling.
A total allocation of Rs 10,032 crore has been made in the Budget for railway projects in Bihar.
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