The Cabinet has approved Rs 8,112.12 crore investment for the state-run NHPC's Pakal Dul Hydroelectric Project in Jammu & Kashmir.
The investment for the construction of this plant includes Interest During Construction (IDC) and Financing Charges (FC) of Rs 500.76 crore.
Further, it includes subordinate debt of Rs 2,500 crore on the conditions and waivers of the government of Jammu & Kashmir. This is applicable during the scheduled completion period of 66 months.
The Cabinet also cleared infusion of equity upto Rs 1,605 crore by NHPC, in Chenab Valley Power Projects (CVPPL), for construction of the Pakal Dul (1,000 MW) and for initial investment in Kiru (660 MW) and Kwar (560 MW) hydroelectric projects.
The proposal for formation and incorporation of CVPPL - a joint venture between NHPC (49 per cent), Jammu and Kashmir State Power Development Corporation (JKSPDC) (49 per cent) and PTC (two per cent), was also given clearance.
More Project Info:
Pakal Dul (1,000 MW) Hydel Power Project