NHPC likely to form JV with J

New Delhi, Apr 30 (UNI) Hydropower utility National Hydroelectric Power Corporation (NHPC) today said it expects to sign a joint venture agreement with the Jammu and Kashmir Power Development Corporation (JKPDC) for setting up three power projects on Chenab by May-end.

In this JV, NHPC will hold 51 per cent stake, while remaining will be owned by JKPDC.

''Talks with the Jammu and Kashmir government are on and the response is very good. We expect the tripartite agreement with the J&K goverment and the JKPDC will be signed by the end of May,'' NHPC Chairman and Managing Director S K Garg told UNI here.

The J&K government, which will be monitoring the project, has given its nod for the same, he added.

The three projects will have a cumulative installed capacity of around 2,120 MW and would entail an investment of over Rs 12,720 crore.

The three projects, to be set up in next four years, include 600 MW Kiru, 1,000 MW Pakal Dul, and 520 MW Karwa.

NHPC has been conferred upon Mini Ratna status on Monday, which gives it financial and operational autonomy.

The state-owned hydropower utility with current capacity of 5,200 MW, aims at becoming the 10,000 MW plus company by the end of 11th Five Year Plan.

UNI SBA SG ND1510