India has become a market that you can’t ignore: Global experts
India has become a market that you can’t ignore, pushed on by government reforms and a booming tech industry, top industry experts have said.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi on Wednesday, approved the investment for 382 MW Sunni Dam Hydro Electric Project in Himachal Pradesh by SJVN Limited, at an estimated cost of Rs 2614.51 crore including Rs 13.80 crore as budgetary support from the Union 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 of Rs 2,614 crore, including hard cost amounting to Rs 2,246.40 crore, Interest During Construction (IDC), and Financing Charges (FC) of Rs 358.96 crore and Rs 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 will be capped at 10 per cent of the sanctioned cost.
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Keeping in view the aims and objectives of Atmanirbhar Bharat Abhiyan, the present proposal for setting up 382 MW Sunni Dam HEP by SJVN will provide various benefits to local suppliers/ local enterprises/ MSMEs and will encourage entrepreneurship opportunities within the country besides promoting employment and socio-economic development of the region.
The implementation of the project will generate direct and indirect employment for about 4,000 persons during the peak construction of the project.
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