The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved an investment of Rs.2,614 crore for the 382 MW Sunni Dam Hydro Electric Project by state-owned SJVN Ltd in Himachal Pradesh.
“The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has approved the investment for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh by SJVN Ltd, for an estimated cost of Rs 2,614.51 crore, including Rs 13.80 crore as budgetary support from Government of India for the cost of enabling infrastructure,” an official statement said.
Ex-post facto approval is given for cumulative expenditure incurred amounting to Rs 246 crore till January, 2022.
The project cost of Rs.2,614 crore included hard costs amounting to Rs.2,246.40 crore, Interest During Construction (IDC), and Financing Charges (FC) of Rs.358.96 crore and Rs.9.15 crore, respectively, the statement said.
The revised cost sanctions for cost variations due to quantity changes (including additions/ alterations/ extra items) and time overruns due to the developer shall be capped at 10% of the sanctioned cost, it added.
Keeping in mind the aims and goals of Atmanirbhar Bharat Abhiyan, it was said that the current proposal to build the 382 MW Sunni Dam HEP by SJVN would offer various benefits to local businesses, MSMEs, and suppliers as well as promote employment and socioeconomic development of the area.
The project will directly or indirectly give employment to over 4000 people during the peak construction of the project, said in a statement.
