SRINAGAR: Chenab Valley Power Projects Pvt Ltd. (CVPPL), a Joint Venture floated by Jammu and Kashmir State Power Development Corporation Ltd (JKSPDC), National Hydro Power Corporation (NHPC) and Power Trading Corporation (PTC), is finally in the process of starting work on the execution of the 1,000 MW hydro-electric project in the Kishtwar district of the state.
“The work on the project is moving in the right direction and could start as early as April 2015. The 1,000 MW power project is expected to create local employment, apart from boosting local infrastructure and tourism and lead to overall development to the villages in the state a whole,” Nain Singh, Managing Director CVPPL, said.
Drangdhuran Consortium, which emerged as the lowest bidder for the project, has quoted around Rs 350 crore lower compared to the second lowest bid for this prestigious contract.
The consortium partners consists of BHEL a state-owned heavy engineering firm, which has commissioned 1, 38, 000 MWs of installed capacity (57% of India’s total installed capacity). The other partners of the consortium are Turkish giant Limak Construction, which is the largest in dam construction, and Patel Engineering—the pioneers of tunneling in India having executed more than 180 Kms of tunneling and 80 Dams worldwide since 1949.
Other bidders for the project including Coastal Project, Soma Enterprises, Gammon India have gone under financial stress and have been referred to the Corporate Debt Restructuring Cells.