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| Decks cleared for 850 MW Ratle Hydroproject | | |
EArly Times Report
Srinagar, Oct 1: In a significant decision, the Public Investment Board (PIB), in the Ministry of Finance, Government of India has recommended that the 850 MW Ratle HEP be developed through a Joint Venture company (JVC) between the JK Power Development Corporation (JKPDC) and the National Hydroelectric Power Corporation (NHPC).
The PIB has also recommended an investment approval for Rs 5281.94 crore for the project including an Infusion of Equity of Rs. 808.14 crore by NHPC in the Joint venture company. The equity contribution of JKPDC in the company pegged at Rs. 776.44 crore will be provided as grant from the Government of India.
The recommendations of the PIB will pave the way for final approval of the project and an early beginning of work on the project. It may be recalled that 850 MW Ratle HEP was the first project in India which was awarded through tariff-based bidding.
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