The Cabinet Committee on Economic Affairs, CCEA has approved the enhancement of cavern capacity, manner of utilization and revised cost estimates of Strategic Crude Oil Storage cavern at Visakhapatnam. A Government release says, the CCEA also approved enhancement of the cavern capacity at Visakhapatnam from ONE Million Metric Tonne (MMT) to 1.33 MMT. The enhanced storage capacity at Visakhapatnam will enable larger strategic storage of crude oil at a lower cost due to cost sharing while providing operating flexibility and cost savings to Hindustan Petroleum Corporation Limited. The Union Cabinet also approved introduction of Damodar Valley Corporation (Amendment) Bill 2011 for the reconstitution of the Damodar Valley Corporation with four full time members, namely, Chairman, Member (Technical), Member (Finance) and Member Secretary; and six part time members, namely – one representative from the Central Government; two representatives – one each from the Government of Jharkhand and the Government of West Bengal; three independent experts- one each from the field of irrigation, water supply and generation or transmission of electricity. The Chairman will be the Chief Executive Officer of the Corporation. A Bill to this effect will be introduced in the ensuing session of the Parliament. The proposed amendment shall broad base and professionalize DVC by bringing outside professional independent experts to discharge its responsibilities more effectively and efficiently. The Cabinet also approved the proposal of Ministry of Defence for transfer on lease basis of 15.19 acres of Defence land in perpetuity to Kendriya Vidyalaya Sangathan (KVS) for construction of class rooms and staff quarters and provisioning of various other infrastructural amenities in Gurgaon, Haryana. The formalities relating to transfer of land to KVS would be completed with a period of 3 months. It also approved another Defence Ministry proposal for transfer on lease basis of 8.90 acres of Defence land to Kendriya Vidyalaya Sangathan (KVS) for construction of school and other related infrastructure at Chakeri, Kanpur.