The Cabinet Committee on Economic Affairs on Wednesday approved the investment for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh by SJVN Limited, for an estimated cost of Rs 2614.51 crore.
The investment includes Rs 13.80 crore as budgetary support from the Government of India for the cost of enabling infrastructure. 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 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 the sanctioned cost, a statement said.
"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/ local enterprises/ MSMEs. The implementation of the project shall generate direct and indirect employment for about 4,000 persons during the peak construction of the project," said the statement.
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