WB funds Rs.2,628Cr projects

The Cabinet Committee on Economic Affairs has revised the cost estimate of Dam Rehabilitation and Improvement Project (DRIP) to Rs.3,466 crore with the financial assistance of the World Bank.

It is to improve safety and operational performance of 198 dams, along with institutional strengthening with system wide management approach.

Out of Rs.3,466 crore, Rs.2,628 crore will be funded by the World Bank and Rs.747 crore will be funded by DRIP States/Implementing Agencies (IAs) and balance Rs.91 crore to be funded by Central Water Commission (CWC).

The CCEA also gave its ex-post facto approval for two-year time extension from 1 July 2018 to 30 June 2020

DRIP envisages following objectives:
Component-I: – Rehabilitation of Dam and its Appurtenant Structures;
Component-II: – Institutional Strengthening and
Component-Ill: – Project Management.

The Scheme envisages comprehensive rehabilitation of 198 existing dam projects located in Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Karnataka, Jharkhand (Damodar Valley Corporation) and Uttarakhand (Uttarakhand Jal Vidyut Nigam Limited).

Originally, the total cost of DRIP was Rs.2,100 crore with State component of Rs.1,968 crore and Central Component of Rs.132 crore.

Initially the project was a six-year Project which commenced on 18 April 2012 with a scheduled closing on 30 June 2018.

The Project implementation has been granted in-principle approval for two years extension in the year 2017 by Union Minister of Water Resources, River Development and Ganga Rejuvenation and the World Bank with a revised closure date of the project by 30 June 2020. fiinews.com