+
 Cabinet sanctions Rs 4k cr for 540 MW Kwar Hydro Electric project
POWER & RENEWABLE ENERGY

Cabinet sanctions Rs 4k cr for 540 MW Kwar Hydro Electric project

The Committee on Economic Affairs, chaired by PM Narendra Modi, approved the investment of Rs 4,526.12 crore for 540 MW Kwar Hydro Electric Project on river Chenab, in Kishtwar, Jammu and Kashmir.

This project will be implemented by Chenab Valley Power Projects Private Limited (CVPPL), a joint venture (JV) firm between National Hydroelectric Power Corporation (NHPC) Limited and Jammu & Kashmir State Power Development Corporation Limited (JKSPDC) with an equity contribution of 51% and 49% respectively.

It will generate 1,975.54 million units in a 90% dependable year.

The government is extending a grant of Rs 69.80 crore for the cost of enabling infrastructure and supporting Jammu and Kashmir by providing a grant of Rs 655.08 crore for the equity contribution and Rs 681.82 crore from its internal resources.

The project shall be commissioned within 54 months. The power generated from the project will help in balancing the grid and improve the power supply position.

Jammu and Kashmir government is extending exemption from levy of Water Usage Charges for ten years after commissioning the project, reimbursement of state's GST, and waiver of free power at 2% per year in a decremental manner.

The construction works for the project will provide direct and indirect employment for around 2,500 persons and contribute to socio-economic development in J&K.

Jammu and Kashmir will be benefitted with free power of around Rs 4,548.59 crore and Rs 4,941.46 crore with Water Usage Charges from Kwar Hydro Electric Project for 40 years.

Image Source

Also read: Mega hydro power projects to come up in J&K

The Committee on Economic Affairs, chaired by PM Narendra Modi, approved the investment of Rs 4,526.12 crore for 540 MW Kwar Hydro Electric Project on river Chenab, in Kishtwar, Jammu and Kashmir. This project will be implemented by Chenab Valley Power Projects Private Limited (CVPPL), a joint venture (JV) firm between National Hydroelectric Power Corporation (NHPC) Limited and Jammu & Kashmir State Power Development Corporation Limited (JKSPDC) with an equity contribution of 51% and 49% respectively. It will generate 1,975.54 million units in a 90% dependable year. The government is extending a grant of Rs 69.80 crore for the cost of enabling infrastructure and supporting Jammu and Kashmir by providing a grant of Rs 655.08 crore for the equity contribution and Rs 681.82 crore from its internal resources. The project shall be commissioned within 54 months. The power generated from the project will help in balancing the grid and improve the power supply position. Jammu and Kashmir government is extending exemption from levy of Water Usage Charges for ten years after commissioning the project, reimbursement of state's GST, and waiver of free power at 2% per year in a decremental manner. The construction works for the project will provide direct and indirect employment for around 2,500 persons and contribute to socio-economic development in J&K. Jammu and Kashmir will be benefitted with free power of around Rs 4,548.59 crore and Rs 4,941.46 crore with Water Usage Charges from Kwar Hydro Electric Project for 40 years. Image Source Also read: Mega hydro power projects to come up in J&K

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code