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

New Delhi, Jan 04: 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 Limited.

The Centre has given nod for the project for an estimated cost of Rs 2614.51 crore including Rs 13.80 crore as budgetary support from the Government of India for the cost of enabling infrastructure, a statement from Cabinet Committee on Economic Affairs (CCEA) said on Wednesday. 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 cost amounting to Rs 2246.40 crore, Interest During Construction (IDC) and Financing Charges (FC) of Rs. 358.96 crore and 9.15 crore respectively, the press release from the Centre stated. 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 to about 4000 persons during peak construction of the project, the statement added.

Meanwhile, the Union Cabinet, chaired by PM Modi, approved National Green Hydrogen Mission on Wednesday. The initial outlay for the Mission will be Rs 19,744 crore, including an outlay of Rs 17,490 crore for the SIGHT programme, Rs 1,466 crore for pilot projects, Rs 400 crore for R&D, and Rs 388 crore towards other Mission components. MNRE will formulate the scheme guidelines for implementation of the respective components, a statement from the Centre said.