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| Tata, Reliance, GVK among 5 competing for Ratle project | | | Early Times Report
Jammu, Feb 17: With signals already coming in for resumption of work of prestigious 1200 MW Sawalakote hydro-electric power project, the government is close to finalizing the allotment of another 690 MW project to come up on Chenab River.
Befitting to the pride of hydel energy richness of Jammu and Kashmir, five top power producing companies of the country are competing against each other for Ratle project in Kishtwar. According to an official spokesman the companies that have submitted their bids for qualification are TATA Power, Reliance Power, GVK Development Projects, LANCO and L&T Power Development Ltd. The five companies are considered among the best not only in country but also in continent. While four are a home name in India, the GVK recently shot into fame for its international airport modernization and maintenance contracts.
A run of the river power plant to come up at Drabshala, 25 kilometers off Kishtwar, the 690 MW Ratle project has been put to bid on the basis of Built Own Operate and Transfer (BOOT) for a contracted period of 35 years. Which means that once built by the company, the project shall become a state owned property in 35 years of operation.
A government spokesman claimed that 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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