Hydro project on the Chenab approved
POWER & RENEWABLE ENERGY

Hydro project on the Chenab approved

Last week, the Union Cabinet approved an investment of Rs 5,281 crore for the 850 MW Ratle Hydropower Project on the Chenab river in Kishtwar district of Jammu and Kashmir (J&K).

The Centre will have a 51% stake in the project through a joint venture between Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) and National Hydroelectric Power Corporation (NHPC).

JKSPDC will hold a 49% share in the project. NHPC will invest Rs 808 crore generated from the power PSU's internal resources. The Ratle Hydroelectric Project is scheduled to be commissioned within 60 months.

As per an official statement, the Government of India (GoI) is also supporting the Union Territory (UT) of J&K by providing a grant of Rs 776 crore for an equity contribution of JKSPDC in the joint venture company (JVC). The power generated from the project will help provide balance to the grid and improve the power supply position.

As we have reported, the government plans to speed up hydro-electric power projects in J&K following UT status.

In order to make the project financially viable, the J&K government will extend the exemption from levy of water usage charges for 10 years after commissioning of the project, reimbursement of state's share of GST (SGST) and waiver of free power to J&K in a decremental manner. The free power to the Union Territory would be 1% in the first year after commissioning the project and increase at the rate of 1% per year to 12% in the 12th year, said the statement.

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

Last week, the Union Cabinet approved an investment of Rs 5,281 crore for the 850 MW Ratle Hydropower Project on the Chenab river in Kishtwar district of Jammu and Kashmir (J&K). The Centre will have a 51% stake in the project through a joint venture between Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) and National Hydroelectric Power Corporation (NHPC). JKSPDC will hold a 49% share in the project. NHPC will invest Rs 808 crore generated from the power PSU's internal resources. The Ratle Hydroelectric Project is scheduled to be commissioned within 60 months. As per an official statement, the Government of India (GoI) is also supporting the Union Territory (UT) of J&K by providing a grant of Rs 776 crore for an equity contribution of JKSPDC in the joint venture company (JVC). The power generated from the project will help provide balance to the grid and improve the power supply position. As we have reported, the government plans to speed up hydro-electric power projects in J&K following UT status. In order to make the project financially viable, the J&K government will extend the exemption from levy of water usage charges for 10 years after commissioning of the project, reimbursement of state's share of GST (SGST) and waiver of free power to J&K in a decremental manner. The free power to the Union Territory would be 1% in the first year after commissioning the project and increase at the rate of 1% per year to 12% in the 12th year, said the statement. Also read: Mega hydro power projects to come up in J&K

Next Story
Infrastructure Urban

NCLAT Rejects Stay On Asset Freeze Order Against Gensol Group

The National Company Law Appellate Tribunal (NCLAT) on Wednesday refused to stay the National Company Law Tribunal’s (NCLT) order to freeze the assets of Gensol, its promoters, and associated entities.The appellate tribunal directed two Gensol Group companies—BluSmart Premium Feet and Matrix Gas and Renewable—to approach the Ahmedabad bench of the NCLT with their plea. The matter is scheduled for hearing on June 12.The asset freeze order was initially passed by a vacation bench of the NCLT on 28 May, following a petition filed by the Ministry of Corporate Affairs (MCA). The order covered..

Next Story
Infrastructure Urban

Man Industries Secures New Export Order Worth Rs 11.5 Billion

Man Industries (India) Limited has secured a new export order valued at approximately Rs 11.5 billion (1,150 crore), expected to be delivered within the next six to twelve months. This fresh contract highlights the company’s strong position in the international pipes market and reinforces the trust placed in its technological and execution capabilities by global customers.The company’s total unexecuted order book currently stands at around Rs 35 billion (3,500 crore), reflecting a robust business environment and strong demand for its products.The new international order involves the supply..

Next Story
Infrastructure Urban

Welspun Corp Wins Repeat Export Order for Middle East Offshore Project

Welspun Corp Limited has announced the award of a repeat export order to supply 50 kilometres of LSAW (Longitudinal Submerged Arc Welded) pipes and bends, featuring anti-corrosion and CWC (coating with corrosion resistance) coatings for a critical offshore project in the Middle East.This new contract highlights Welspun’s dedication to advanced technology, stringent quality standards, and its proven expertise in meeting sour service requirements. Such credentials have established the company as a preferred and trusted partner for complex projects worldwide.Since the company’s last update on..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?