New Delhi, Jan 4 (IANS): The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the investment of Rs 2,614.51 crore for the 382 MW Sunni dam hydro-electric project in Himachal Pradesh by SJVN Ltd.

The amount also includes Rs 13.80 crore as budgetary support from the Centre for 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 includes 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 would be capped at 10 per cent of sanctioned cost.

"The present proposal of setting up of 382 MW Sunni dam would provide various benefits to local suppliers, local enterprises as well as MSMEs and shall encourage entrepreneurship opportunities within the country, besides promoting employment and socio-economic development of the region," an official statement said.