Rs 2,047 cr Rampur Hydro Power Project approved: Cabinet

New Delhi, Jan 11 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for setting up of 412 MW Rampur Hydro-Electric Project (6 x 68.67 MW) in Himachal Pradesh at an estimated cost of Rs 2,047.03 crore.

It would be executed by Satluj Jal Vidyut Nigam Limited (SJVN) and the cost includes IDC and financing charges of Rs 260.41 crore and Rs 1.46 crore respectively at March 2006 Price Level.

Funds would be raised through equity from internal accruals of SJVN (Rs 614.11 crore) and commercial loans (Rs 1,432.91 crore).

The proposed project would reduce the power shortage in the Northern region of the country, Finance Minister P Chidambaram told reporters.

The benefits from the 412 Rampur HE Project are expected to be available by the year 2011-2012.

The project would be located on the river Satluj in Shimla and Kullu Districts of Himachal Pradesh. The project site is located near village Jhakri upstream of Rampur Bushahr town in Shimla district and the Powerhouse is proposed on the right bank of river Satluj near Village Bael (opposite village Duttnagar) in district Kullu.

UNI