Comments
Power utility NHPC today said it will invest Rs 2,400 crore on setting up three projects in J&K under a joint venture with the Jammu & Kashmir State Power Development Corporation and PTC India.
The joint venture entity — Chenab Valley Power Projects Pvt Ltd — will implement three projects having a total capacity of over 2,100 MW. These are — Pakal Dul (1,000 MW), Kiru (600 MW) and Kwar (520 MW).
“The total investment to be made by the joint venture firm will be around Rs 15,000 crore. NHPC’s equity contribution toward the entity will be around Rs 2,400 crore,” NHPC Chairman and Managing Director, Mr A.B.L. Srivastava, told PTI in an interview.
He said the joint venture company’s first project — Pakal Dul — is expected to be complete in six to seven years.
The three projects will be funded in a debt-equity ratio of 70:30. Chenab Valley Power Projects was incorporated earlier this month.
In December, 2010, Jammu & Kashmir State Power Development Corp, NHPC and PTC India had inked a promoter’s agreement for setting up the new entity.
Jammu & Kashmir State Power Development Corp and NHPC will have 49 per cent stake each in the joint venture firm, while the remaining shareholding would be with PTC India.
Out of NHPC’s installed capacity of about 5,300 MW, over 1,600 MW comes from J&K.
The company is currently operating four projects in J&K, having a total capacity of 1,680 MW.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.