NEW DELHI: The Cabinet Committee on Economic Affairs chaired by the PM Narendra Modi on Thursday approved the Dam Rehabilitation and Improvement Project Phase II & Phase III.
The project will have the financial assistance of the World Bank and Asian Infrastructure Investment Bank. The initiative aims to improve safety and operational performance of selected dams across the country.
Union Minister for Jal Shakti Gajendra Singh Shekhawat said the project will cost Rs 10,211 crore to the excehequer, while it will be implemented over a period of 10 years.
“The share of external funding is Rs 7,000 crore of the total cost, and balance Rs 3,211 crore is to be borne by the concerned Implementing Agencies. The contribution of Centre is Rs 1,024 crore as loan liability and Rs 285 crore as counter-part funding for Central Component,” said Shekhawat.
The scheme envisages comprehensive rehabilitation of 736 existing dams across India in two phases, each of six-years duration, with two years overlapping from April 2021 to March 2031.