Govt approves Investment for construction of Hydroelectric Project

Approval includes subordinate debt of Rs. 2500 crore on the conditions and waivers of the Govt of J&K in a scheduled completion period of 66 months.The Union Cabinet chaired by the Prime Minister, Narendra Modi, gave its approval for the Investment approval for construction of the Pakal Dul Hydroelectric Project (4 x 250 Megawatt (MW) at an estimated cost of Rs.8112.12 crore including Interest During Construction (IDC) and Financing Charges (FC) of Rs. 500.76 crore at March, 2013 price level with a debt equity ratio of 70:30. The approval also includes subordinate debt of Rs. 2500 crore on the conditions and waivers of the Government of Jammu and Kashmir in a scheduled completion period of 66 months.