New Delhi/IBNS: The Cabinet Committee on Economic Affairs (CCAE) Wednesday approved the investment for the 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh by SJVN Ltd.

The estimated cost of the project is Rs. 2614.51 crore including Rs 13.80 crore as budgetary support from the government 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 includes hard costs 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 revised cost sanctions for cost variations due to quantity changes (including additions/ alterations/ extra items) and time overruns due to the developer is capped at 10 percent of the sanctioned cost.

The implementation of the project is expected to generate around 4000 direct and indirect employment during the peak construction of the project.