New Delhi: A total of 205 energy projects in India are facing cost overrun of Rs 1.34 lakh crore. Out of the total, 154 projects belong to the oil and gas and power transmission and distribution (T&D) sectors, data sourced from the Ministry of Statistics and Programme Implementation (MoSPI) showed. According to the data, 89 oil and gas, 65 T&D, 35 electricity generation and 16 energy storage projects were delayed at the end of September. The total original cost of these projects was Rs 8.50 lakh crore. However, due to delays, the total revised cost of these projects now stands at Rs 9.84 lakh crore.
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Out of the total cost overrun of Rs 9.84 lakh crore, oil and gas and power generation projects contribute the lion’s share at Rs 7.08 lakh crore. While oil and gas projects revised cost stands at Rs 3.78 lakh crore, the same figure for electricity generation projects stands at Rs 3.29 lakh crore. The revised cost of T&D projects is Rs 1.56 lakh crore and that of energy storage projects is Rs 1.20 lakh crore.
Among the projects delayed, Hindustan Petroleum Corporation Limited’s (HPCL) Rajasthan Refinery faces the largest cost overrun of Rs 36,330 crore. The original cost of the project was Rs 43,129 crore. It now stands revised at Rs 79,459 crore.
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Bharat Petroleum Corporation Limited’s (BPCL) Ethylene Cracker Project at Bina Refinery, including downstream petrochemical plants, and expansion of the refinery from 7.8 MMTPA to 11 MMTPA, is another project that is facing cost overrun. Indian Oil’s Panipat Refinery capacity expansion project is also delayed and faces cost overrun of Rs 1,598 crore. Among electricity generation projects, Dibang multipurpose project also faces delays.