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AGM of Chenab Valley Power Projects held

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JAMMU: Fifth Annual General Meeting (AGM) of Chenab Valley Power Projects [P] Ltd was held on 9th Aug 2016 under chairmanship of M.Y Khan at Jammu. CVPP Ltd is entrusted with the implementation of four hydroelectric projects i.e Pakal Dul (1000 MW), Kiru (624 MW), Kwar (540 MW) and Dulhasti- StageII(550 MW) HE Projects in River Chenab basin.
As per the promoter’s agreement, NHPC, JKSPDC and PTC have agreed to subscribe equity in the ratio of 49 per cent, 49 per cent and two per cent respectively.
All the statutory clearances viz Accord of Appraisal by CEA, Environment Clearance by MOEF&CC, forest clearance by Govt. of J&K of Pakal Dul and Kiru H.E Projects have already obtained by CVPP. Major works of Pakal Dul Project shall be awarded in six packages while that of Kiru H.E project shall be awarded in three packages.
Investment approval for execution of Pakal Dul has been accorded by Govt. of India on 28th October 2014 at a sanctioned cost of Rs. 8112 crores at March 2013 price level. The project is scheduled to be completed in 66 months. Pakal Dul is a project of national importance and subordinate debt of Rs 2,500 crores was sanctioned by Government of India. State Government has also exempted the project from WCT besides exemption of water usage and waiver of 12 per cent free power for 10 years after its commissioning.
Meeting of the Standing Committee to approve R&R Plan of Pakal Dul HE Project has been held under the chairmanship of Chief Secretary, J and K on 22ndJuly at Srinagar and approval of the plan is expected shortly. NIT for construction of Diversion Tunnel and that of two Head Race Tunnels have been issued on 2nd March 2016 and 31st March 2016 respectively.
The total cost of 624 MW Kiru H.E Project is Rs 4,640 crores and is likely to be completed by 54 months. The meeting was attended by Dheeraj Gupta, Commissioner Secretary Power PDD J and K, Jayant Kumar Director Finance NHPC, M.S Babu Managing Director CVPP and other senior officers of NHPC, PTC and CVPP.

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