New Delhi [India], October 29 (ANI): The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the Dam Rehabilitation and Improvement Project (DRIP) Phase II and Phase III to improve safety and operational performance of selected dams across the country.
It envisages "comprehensive rehabilitation" of 736 existing dams located across the country and entails financial assistance from the World Bank (WB) and the Asian Infrastructure Investment Bank (AIIB).
An official release said that the project cost is Rs 10,211 crore and it will be implemented over a period of 10 years in two phases - each of six years duration with two years overlapping from April, 2021 to March, 2031.
The share of external funding is Rs 7,000 crore of the total project cost, and balance Rs 3,211 crore is to be borne by the concerned Implementing Agencies (IAs). The contribution of Central Government is Rs 1,024 crore as loan liability and Rs 285 crore as counter-part funding for central component.
The phase two and three of DRIP are aimed at improving the safety and performance of selected existing dams and associated appurtenances in a sustainable manner, the release said.
It also aims to strengthen the dam safety institutional setup in participating states as well as at central level and explore the alternative incidental means at few of selected dams to generate the incidental revenue for sustainable operation and maintenance of dams.
The project covers 31 dams in Andhra Pradesh, 59 in Tamil Nadu, 167 in Maharashtra, 189 in Rajasthan and 41 in Karnataka.
It also includes two dams with Bhakra Beas Management Board as implementing agency. (ANI)