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The Union cabinet on January 20 approved investment plan worth Rs 5,281.94 crore to develop 850 megawatt (MW) Ratle hydroelectric project located on river Chenab in Kishtwar district of Jammu and Kashmir.
The project will be executed by a new joint venture company to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu and Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51 per cent and 49 per cent, respectively.
The Ratle project is expected to be commissioned within 60 months.
According to a government statement, the Centre will be providing grant of Rs 776.44 crore for an equity contribution of JKSPDC in the joint venture to be set up for construction of the project. NHPC will invest its equity of Rs 808.14 crore from its internal resources.
The power generated from the project will help in providing the balancing of Grid and will improve the power supply position, it said.
The construction activities of the project will result in direct and indirect employment to around 4,000 persons. Further, the Union territory will be benefitted by getting free power worth Rs 5,289 crore and through a levy of water usage charges worth Rs 9,581 crore from Ratle project, during its lifecycle of 40 years.
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