JK to host first-ever ‘global investor meet’ for harnessing 20,000 MW of hydro-power

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In a bid to boost the Jammu and Kashmir economy, the Mehbooba Mufti-led government is all set to host in July-end its first ever “global investors meet”, aimed at harnessing hydropower potential of 20,000 megawatts in the state.

Jammu and Kashmir has exploited only about 16 per cent of the estimated 20,000 MW of hydro-power potential for the past two decades even as the energy demand has been growing gradually, creating a wider demand-supply gap.

“I am hosting (first-ever) global investor meet by July-end (in the state to focus on harnessing of the huge hydro power potential of J&K),” Minister for power Sunil Sharma said.

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The investors from hydro-power sector from across the world, not from India only, will take part in the meet, he said adding, “We will give a presentation on the hydro power potential of J&K before them”.

Some of the world’s top most hydro-power generation companies are expected to take part in the global investor meet in Srinagar by July-end.

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In February Jammu and Kashmir had signed the first ever Foreign Direct Investment (FDI) agreement with Dubai Ports (DP) group CEO Sultan Ahmed bin Sulayem in Dubai.

The MoU was signed in the presence of Prime Minister Narendra Modi and crown prince of UAE, Mohamed bin Zayed at the Presidential palace.

On February 7, the Jammu and Kashmir government and Dubai Ports Group inked a pact for a joint venture involving maiden Rs 1,500 crore foreign direct investment for setting up inland logistic hubs in Jammu and Srinagar capital cities.

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