The Cabinet Committee on Economic Affairs led by Prime Minister of India Narendra Modi has approved the investment sanction for construction of Kiru Hydro Electric(HE) Project (624 MW) by Chenab Valley Power Projects Private Limited (M/s CVPPPL) in Jammu & Kashmir, an official handout said.
The project will be implemented at an estimated cost of Rs.4287.59 crore (at July, 2018 price level) which includes Interest During Construction (IDC)and Foreign Component (FC) of Rs.426.16 crore and infusion of equity of Rs 630.28 crore by NHPC in M/s CVPPPL, for construction of Kiru HE project (624 MW) including Rs 70 crore for pre-construction activities already approved by the cabinet, while according the approval for execution of the Pakal Dul HE Project, it said.
M/s CVPPPL, is a joint venture company amongst NHPC, Jammu & Kashmir State Power Development Corporation (JKSPDC) and PTC with equity shareholding of 49%, 49% and 2% respectively.
The project is located on River Chenab in Kishtwar. It envisages construction of a 135 m high concrete gravity Dam above deepest foundation level, 4 Nos circular, Pressure Shaft of 5.5 m internal dia of length varying from 316 m to 322 m, an underground Power House and 4 Nos Tail Race Tunnel, Horseshoe shape, 7 m dia and length varying from 165 m to 190 m.
The project will provide much needed power in northern grid and shall accelerate process of development of remote areas of Jammu and Kashmir. The Project is scheduled to be completed in a period of 4 1/2 years, it added.