The Union Cabinet on Wednesday approved a proposal to invest Rs 4,526.12 crore to construct 540 MW Kwar hydroelectric project in Jammu & Kashmir.
“Cabinet has approved construction of 540 Megawatt Kwar Hydro Electric project at a cost of Rs 4,526.12 crore,” Union Minister Anurag Thakur said in a briefing on the cabinet decisions.
It was informed that the project will generate 1,975.54 million units of electricity in a 90 per cent dependable year. It will be commissioned in 54 months.
It will provide direct and indirect employment to about 2,700 persons.
The project will come up on river Chenab in the Kishtwar district of Jammu & Kashmir. It will be implemented by Chenab Valley Power Projects Ltd.
Chenab Valley Power Projects Ltd is a Joint Venture Company between NHPC (51 per cent) and JKSPDC (49 per cent), formed at the initiative of the Jammu & Kashmir government and the Centre to harness the vast hydro potential of river Chenab. The company was incorporated on June 13, 2011.
The company has been entrusted with the construction of hydropower projects on a build, own, operate and maintain (BOOM) basis with an aggregate installed capacity of 3,094 MW.