Union Cabinet okays Rs 4,526 crore investment for hydroelectric project on Chenab river in J&K.
<p>
The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi today approved an investment of Rs.4526.12 crore to construct the 540 Megawatt (MW) Kwar Hydro Electric Project on river Chenab, in Kishtwar district of Union Territory of Jammy and Kashmir.&nbsp;</p>
<p>
The project will be implemented by M/s. Chenab Valley Power Projects Private Limited a joint venture company between NHPC and JKSPDC with&nbsp; equity contribution of 51% and 49% respectively on 27.04.2022.</p>
<p>
The project will generate 1975.54 million units in a 90% dependable year.</p>
<p>
The construction activities of the project will result in direct and indirect employment to around 2500 persons and will contribute in overall socio-economic development of the Union Territory of J&amp;K.&nbsp; Further, UT of J&amp;K will be benefitted of Jammu &amp; Kashmir 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, during project life cycle of 40 years.</p>
<p>
Government of India is extending a grant of Rs.69.80 crore towards cost of Enabling Infrastructure and also supporting the Union Territory of Jammu &amp; Kashmir by providing a grant of Rs.655.08 crore for Equity contribution of JKSPDC (49%) in M/s. CVPPPL.&nbsp; NHPC will invest its equity (51%) of Rs.681.82 crore from its internal resources.&nbsp; The Kwar Hydro Electric Project will be commissioned within 54 months.</p>
Prime Minister Narendra Modi on Friday inaugurated the world's highest railway arch bridge - 'Chenab…
External Affairs Minister S Jaishankar on Friday flagged off the 4th India-Central Asia Dialogue with…
Announcing the monetary policy on Friday from Mumbai, Reserve Bank of India (RBI) Governor Sanjay…
Union Minister Sarbananda Sonowal delivered the keynote speech at the India country session, India@NorShipping. At…
Union Commerce and Industry Minister Piyush Goyal on Thursday said that India and Italy have…
By Reena Bhardwaj The public breakdown between US President Donald Trump and Tesla CEO Elon…