Jammu, June 22: The fate of proposed joint venture between Jammu and Kashmir Power Development Corporation (JKPDC), Power Trading Corporation (PTC) and National Hydroelectric Power Corporation (NHPC) hangs in balance, even after an agreement was signed between these companies in 2008.
 “Proposal of the state government to form a joint venture to execute 1000 MW Pakal Dul and two other hydroelectric projects with aggregate installed capacity of about 2100 MW in Chenab River Basin in J&K has not been cleared by the Government of India till date,” sources told Greater Kashmir.  
 State government, according to the sources, has taken up the matter with the Union Power Ministry on number of occasions but so far no breakthrough has been achieved.  
 “As the Power Ministry didn’t show any interest, representatives of the JK government took up the matter with Prime Minister’s Office. The PMO asked the Power ministry to move a reference to department of expenditure ministry of Finance, after getting legal issues involved and examined,” sources said, adding, “So far the state government has not received any communiqué from the Power Ministry and the fate of the joint venture still hangs in balance”   
 Pertinently, the state owned JKPDC had signed an agreement on equity share in three major power projects over the river Chenab in Doda and Kishtwar districts of the Jammu region in July 2008, after approval of the state cabinet and union ministry of power.
 The equity share was fixed at 49:51, with 49 per cent for the state and 51 per cent for the NHPC.
 A decision was taken by the state government to float the Chenab Valley Corporation for the purpose with its chairman from Jammu and Kashmir.
 The projects, which were proposed to be taken up jointly, were 1,000 Mw Pakal-Dul project in Kishtwar, and the 600 Mw Keru project and the 520 Mw Kawar project in Doda.

Lastupdate on : Tue, 22 Jun 2010 21:30:00 Makkah time
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