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| Despite Pak threats, PM Modi led Cabinet approves 850 MW Rattle power project: Manoj Sinha | | |  EARLY TIMES REPORT
jammu, Jan 20: Jammu and Kashmir's Lieutenant Governor Manoj Sinha said that despite threats from Pakistan, the Union Cabinet that med today under the leadership of Prime Minister Narendera Modi approved the 850 MW Rattle power project that will be commissioned in five years.
"Let me announce here that the Union cabinet that met under the chairmanship of PM Modi granted sanction to the 850 MW Rattle power project worth Rs 5822 Crore. The project will be commissioned in five years," the LG Sinha told .
He said that the Rattle power project has been approved despite threats from Pakistan that it would take the issue to International court and the world-bank.
The project will create 4000 jobs directly and indirect and first preference will be given to the local youth of Jammu and Kashmir, the LG Sinha said.
He said that the J&K administration and the GoI is committed to ensure 24-hour uninterrupted power supply to each household in the times. "The project share will be 51 per cent by NHPC and 49 per cent by J&K SPDC," the LG said.
He said that in next five years J&K administration will be investing Rs 52821 crores in power sector. "In next five years, 12000 direct and indirect jobs will be created and first preference will be given to local youth of J&K," the LG Sinha.
He said that from 1947 to 2018, J&K generated only 3400 MWs of power while from 2018 onwards power generation increased. "The total generation target of the J&K administration is 6300 MWs," the LG said. The LG also urged people to get Covid-19 vaccine shots as early as possible stating that the vaccine is totally safe and approve by the Scientific Regulatory Authority of India.
HIGHLIGHTS OF RATLE (850 MW) PROJECT
o Investment of Rs.5281.94 crore for 850 MW Ratle Hydro Electric Project located on river Chenab, in Kishtwar district of Union Territory of Jammu and Kashmir, by a new Joint Venture Company to be incorporated between NHPC and JKSPDC with equity contribution of 51% and 49% respectively.
o Government of India is also supporting the Union Territory of Jammu and Kashmir by providing grant of Rs. 776.44 crore for Equity contribution of JKSPDC in the JVC to be set up for construction of Ratle HE Project (850 MW). NHPC shall invest its equity Rs.808.14 crore from its internal resources.
o The Ratle Hydro Electric Project shall be commissioned within a span of 60 months. The Power generated from the Project will help in providing balancing of Grid and will improve the power supply position.
o Government of Union Territory of Jammu and Kashmir, to make the Project viable, will extend exemption from levy of Water Usage Charges for 10 years after commissioning of the project, reimbursement of State's share of GST (i.e. SGST) and waiver of free power to the State in a decremental manner, i.e., the free power to the State would be 1% in the 1st year after COD and rising @1% per year to 12% in the 12th year.
o The construction activities of the Project will result in direct and indirect employment to around 4000 persons and will contribute in overall socio-economic development of the Union Territory of Jammu and Kashmir. Further, Union Territory of Jammu and Kashmir will be benefitted with free power of around Rs. 5289 crore and Rs.9581 crore with Water Usage Charges from Ratle Hydro Electric Project, during Project life cycle of 40 years. |
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