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Ganderbal power project still a dream Exchequer loses Rs 13 cr 11/18/2016 10:57:42 PM Peerzada Ummer Early Times Report Srinagar, Nov 18: Due to unplanned execution of the much-hyped Gander-bal Power House, the state exchequer has lost around Rs 13 crore besides additional power of 63.64 MUs. According to official documents in possession of Early Times, the Ganderbal Power Project was to generate additional power of 63.64 MUs with extra annual revenue to the extent of Rs 12.72 cr. The Central Electricity Authority (CEC) in May 2002 approved the project at a cost of Rs 28.87 cr. The Board of Directors of Power Development Corporation Limited in August 2006 approved the Renovation, Modernization and Upgradation (RMU) works of the power house at the cost of Rs 39.30 cr with the plan to raise finances of Rs 24 cr from Power Finance Corporation New Delhi. Furthermore, the subsidy of Rs 10 cr from the Union Ministry of New Renewable Energy and equity of Rs 5.30 cr from the state government was accorded. Documents reveal that the Power Finance Corporation approved Rs 24 cr loan in February 2006 against which the company availed loan of Rs 3.60 cr in October 2007. Documents also reveal that the Power Development Corporation took up the works of the project during the financial year of 2009-10 and as of July 2014 executed civil works to the extent of Rs 9.08 cr and electro-mechanical works to the tune of Rs. 83.54 lakh up to June 2014. It has been found that the works were executed at a slow pace. Against the scheduled date of completion of work, the work was executed to the extent of only 52 percent till March 2011. As the delay was done, the company (JKPDC) didn't take any action against the contractor. Reports inform that JKPDC finally shot the notice to the contractor for the termination of the contract and imposition of penalties. However, the contractor approached the court in 2014 and obtained a stay order. Thus, the execution of project of renovation, modernisation and upgradation of 15 MW Ganderbal Power House, which suffered right from its approval in May 2002 due to delay, repeated revisions necessitated by restricting execution of works resulted in unplanned execution of the project and consequent unfruitful expenditure of Rs 9.92 cr. Billed as the dream project of the former Chief Minister Mufti Moha-mmad Sayeed, its objective was to generate additional power of 63.64 MUs with extra annual revenue of Rs. 12.72 cr.   Share This News with Your Friends on Social Network     Comment on this Story

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