JK News Today
Jammu, April 27:
The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi today has approved the investment of Rs.4526.12 crore for 540 MW Kwar Hydro Electric Project located on river Chenab, in Kishtwar district of Union Territory of Jammu and Kashmir. The project will be implemented by M/s. Chenab Valley Power Projects Private Limited (M/s. CVPPL) a joint venture company of NHPC and JKSPDC. The project shall generate 1975.54 million units in a 90% dependable year.
Government of India is extending grant of Rs.69.80 crore towards cost of Enabling Infrastructure and also supporting the Union Territory of Jammu & Kashmir by providing grant of Rs.655.08 crore for Equity contribution of JKSPDC (49%) in M/s. CVPPPL. NHPC shall invest its equity (51%) of Rs.681.82 crore from its internal resources. The Kwar Hydro Electric Project shall be commissioned within a span of 54 months. The Power generated from the Project will help in balancing of Grid and will improve the power supply position.
The construction activities of the Project will result in direct and indirect employment and will contribute in overall socio-economic development of the Union Territory of J&K.
