Cabinet approves investment of over Rs 5200 crore for 850 MegaWatt Hydro Power Project in J&K

The Union Cabinet has given its approval for the investment of over Rs 5,200 crore for 850 megawatts Ratle Hydro Electric (HE) Project located on Chenab river in Kishtwar in Jammu and Kashmir. This will be a new Joint Venture Company (JVC) of National Hydroelectric Power Corporation (NHPC) and Jammu with equity contribution of 51 per cent and Kashmir State Power Development Corporation Ltd (JKSPDC) with 49 per cent.

The Government is also supporting the Union Territory of Jammu and Kashmir by providing a grant of Rs 776.44 crore for an Equity contribution of JKSPDC in the JVC to be set up for construction of Ratle Hydro Electric Project.

The Ratle Hydro Electric Project shall be commissioned within 60 months. The Power generated from the project will help in providing the balancing of Grid and will improve the power supply position.

As per reports, the construction activities of the project will provide direct and indirect employment to around 4000 persons and will contribute immensely in the overall socio-economic development of Jammu and Kashmir.