A small clarification in addition to Abhisek's reply ... in all the systems that I use, when I give users the Project - Create right, they automatically get BOTH "new" buttons; the New and New from Template buttons.
The Project - Create from Template is a right that you can give instead of the Project - Create right, to only allow users to create projects from a template. At that point the users only see the New from Template button.
To answer the original question, you do not state if you see the New button, but if you do see New then I am not sure why the New from Template button is not available. Unless there has been a customization in your system to remove it.
Which version of CA PPM are you using?