The Union Cabinet has given its approval for the investment of Rs 5281.94 crore for 850 MW Ratle Hydro Electric Project located on Chenab river in Kishtwar district of Union Territory of Jammu and Kashmir.
For the construction activities a new Joint Venture Company (JVC) is to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51% and 49% respectively.
This Project will result in direct and indirect employment to around 4000 persons and will contribute in overall socio-economic development of the Union Territory of Jammu and Kashmir.
Further, Union Territory of Jammu and Kashmir will be benefitted by getting free power worth Rs. 5289 crore and through levy of Water Usage Charges worth Rs.9581 crore from Ratle Hydro Electric Project, during project life cycle of 40 years.