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| Bidding submission for Ratle Hydro Power Project completed | | | Early Times Report
Jammu, Feb17: Five top notch companies have submitted their bids for development of 690 MW Ratle Hydro Electric Project (HEP) in District Kishtwar. With this, the bid submission process for this prestigious project has been completed and the project is expected to be awarded to the eligible bidder soon.
The companies which have submitted the bids are TATA Power, Reliance Power, GVK Development Projects, LANCO and L&T Power Development Ltd., all of which are top notch companies in infrastructure development, particularly power sector. The 690 MW Ratle HEP, a run of the river project in village Drabhshala, 25 Kms downstream of Kishtwar, has been bid out for development on BOOT basis through private participation for a contract period of 35 years after which the project will revert back to J&K. A transparent two stage bidding process comprising of request for qualification followed by request for proposal has been adopted. Tariff based bidding in Hydro electric has been adopted for the first time in the country and the process is going to be a benchmark for development of power project through this mode.
An investment of more than Rs. 5000 crore is expected to be made by the developer for implementation of the project, which is going to provide substantial employment opportunities to youth of Jammu and Kashmir in general and Kishtwar area in particular. The project, once completed, will narrow down the gap between supply and demand of power as J&K will be assured at least 71% power from this project. The project is targeted for completion in 2016.
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