The Cabinet has given its approval for the investment of over 5200 crore rupees for 850 MW Ratle Hydro Electric (HE) Project located on river Chenab, in Kishtwar in the Union Territory of Jammu and Kashmir. This will be a new Joint Venture Company (JVC) of 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.
Government is also supporting the Jammu and Kashmir Union Territory by providing grant of 776.44 crore rupees for Equity contribution of JKSPDC in the JVC to be set up for construction of Ratle HE Project. The Ratle Hydro Electric Project shall be commissioned within 60 months. The Power generated from the Project will help in providing balancing of Grid and will improve the power supply position. AIR Correspondent 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.
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