Steel Authority of India (SAIL) has abandoned its plans to set up a steel processing unit (SPU) in Jammu and Kashmir because of concerns about its financial viability.SAIL had undertaken a fresh financial review of the project on account of the changed market scenario and the viability of the project without the concessions
The Cabinet has given a go ahead and has planned an investment of Rs 8,112.12 crore for National Hydroelectric Power Corporation´s (NHPC´s) Pakal Dul Hydroelectric project in Jammu & Kashmir. The project is expected to reduce power shortage in the northern region. This investment includes Interest During Construction (IDC) and Financing Charges (FC) of Rs 500.76 crore.
About 28 rural road projects in Jammu & Kashmir have been approved by the Ministry for Rural Development. The 350 km long projects worth Rs 438 crore will include six proposals of 142 km length in the Leh region and 22 projects of 207 km length in the Kargil district. The Leh proposals are worth Rs 181.4 km and the proposals in Kargil will cost Rs 256.6 crore.