Cabinet approves Investment for 382 MW Sunni Dam Hydro Electric Project by SJVN
The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Shri Narendra Modi has 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 crores.
representative image
Himachal Pradesh: The Cabinet Committee on Economic Affairs chaired by Hon’ble Prime Minister Shri Narendra Modi has 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 crores including Rs. 13.80 crores as budgetary support from 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. 2614 crore included hard costs amounting to Rs.2246.40 crore, Interest During Construction (IDC) and Financing Charges (FC) of Rs. 358.96 crore & 9.15 crore respectively. 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.
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 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 for about 4000 persons during the peak construction of the project.
Read Also : Air Chief Marshal VR Chaudhari, CAS presented Presidential Awards to 51 IAF personnelNews Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station