Buoyed with 'wonderful working experience' in Kashmir, Sterlite Power Transmission Ltd, a power transmission developer and solutions provider, has decided to invest Rs10,000 crore in J&K.
As per company insiders, Sterlite Power, which had successfully built Jalandhar-Samba-Amargarh transmission line under Northern Region Strengthening Scheme (NRSS)-29 – in record time – and will be commissioned on February 3 by Prime Minister Narendra Modi, has already informed the Union and J&K Government about its plan of investing in the state.
"We had sent two separate letters to PMO and the chief secretary of Jammu and Kashmir expressing our willingness in investing Rs 10,000 crore for development of power sector and renewable energy in the state," an official of the company said.
"Things are in very advance stage. Top officials of the company are camping in the summer capital and meeting with people in administration for preparation of detailed memorandum of understanding, which would be signed between state and company on the PM's visit," the official said.
"Formal announcement in this regard will be made in presence of Prime Minister Narendra Modi, who will inaugurate Jalandhar-Samba-Amargarh transmission line," sources said.
"PM will dedicate this prestigious project to the nation on February 3. This was built at an investment of Rs 3,000 crore NRSS 29 provides alternative transmission of power for the valley," said Balaji Krishnaswamy, head communications Sterlite Power.
On more investments in state, he said, "Sterlite Power's working experience in Jammu and Kashmir with local people for Jalandhar-Samba-Amargarh and another Rs 2,000 crore project of Army for laying telecommunication network is awesome, which we want to continue with changing lives of people."