New Delhi: The Cabinet Committee on Economic Affairs has approved the investment for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh of SJVN Limited.

The meeting was chaired by Prime Minister Narendra Modi.

The project estimated cost is estimated at ₹ 2614.51 crore including ₹ 13.80 crore as budgetary support from Government of India for cost of enabling infrastructure.

Ex-post facto approval is given for cumulative expenditure incurred amounting to ₹ 246 crore till January, 2022.

Project cost of ₹ 2614 crore included hard cost amounting to ₹ 2246.40 crore, Interest During Construction (IDC) and Financing Charges (FC) of ₹ 358.96 crore and ₹ 9.15 crore respectively.

The revised cost sanctions for cost variations due to quantity changes and time overruns due to the developer shall be capped at 10 per cent of sanctioned cost.

Keeping in view the aims and objectives of Atmanirbhar Bharat Abhiyan, the present proposal for setting up of 382 MW Sunni Dam HEP by SJVN shall provide various benefits to local suppliers and shall encourage entrepreneurship opportunities within the country besides promoting employment and socio-economic development of the region.

The implementation of the project shall generate direct & indirect employment to about 4000 persons during peak construction of the project.

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Rahul Bhandari is Editor of TheNewsHimachal and has been part of the digital world for last 15 years.