Centre approves Rs 2,614-cr investment for Sunni Dam hydro power project

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

cash, currency, notes, funds, investment, shares, growth, profit, loss, tax, money, income, earnings
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 per cent of the sanctioned cost
Press Trust of India New Delhi
2 min read Last Updated : Jan 04 2023 | 10:56 PM IST

The government on Wednesday approved Rs 2,614.51 crore investment 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, it added.

?The project cost of Rs 2,614 crore included hard cost amounting to Rs 2,246.40 crore, Interest During Construction (IDC) and Financing Charges (FC) of Rs 358.96 crore and 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 per cent of the sanctioned cost, it added.

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

The implementation of the project shall generate direct and indirect employment for about 4,000 persons during the peak construction of the project, as per the statement.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :hydro powerUnion CabinetHydro power projects

First Published: Jan 04 2023 | 4:27 PM IST

Next Story