New Delhi, Mar 07: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has approved the investment sanction for construction of 624 MW Kiru hydro-electric power project by M/s Chenab Valley Power Projects Private Limited (CVPPPL) in Jammu & Kashmir.
The project will be implemented at an estimated cost of Rs 4287.59 crore which includes Interest during construction and foreign component of Rs 426.16 crore and infusion of equity of Rs 630.28 crore by NHPC in CVPPPL, for construction of Kiru hydro-electric project including Rs 70 crore for pre-construction activities already approved by the Cabinet, while according the approval for execution of the Pakal Dul hydro-electric project, an official handout said.
CVPPPL is a joint venture company between NHPC, Jammu & Kashmir State Power Development Corporation (JKSPDC) and PTC with equity shareholding of 49 percent, 49 percent and 2 percent respectively.
The project is located on River Chenab in Kishtwar district of Jammu & Kashmir. It envisages construction of a 135 m high concrete gravity dam above deepest foundation level, four circular pressure shafts of 5.5 m internal dia of length varying from 316 m to 322 m, an underground power house and four tail race tunnels, horseshoe shape, 7 m dia and length varying from 165 m to 190 m.
The project shall provide much-needed power in Northern Grid and shall accelerate process of development of remote areas of Jammu and Kashmir. The project is scheduled to be completed in a period of four-and-half years, the handout informed.
Kiru hydro-electric project is envisaged as a run-of-river (RoR) scheme, designed complying with the requirements of Indus Waters Treaty of 1960, with installed capacity 624 MW (4 x 156 MW). The project would generate 2272.02 MU in a 90 percent dependable year.
The foundation stone of the project was laid by the Prime Minister Narendra Modi on Feb 03, 2019.
The Government of Jammu and Kashmir has already granted exemption on account of payment of levy of toll tax, State Goods and Service Tax (SGST), waiver of free power in a decremental manner and water usage charges for a period of 10 years from the date of commercial operation.
