J&K govt intends to buy back Uri-I power project

Last Updated: Tuesday, October 11, 2011 - 14:32

Srinagar: The Jammu and Kashmir Government
has said it intends to buy back the Uri-I power project from
NHPC for an estimated Rs 2,100 crore within two years.

"The Government intends to buy back Uri-I project, valued
at Rs 2100 crore, from the NHPC within two years which is
expected to generate an annual revenue of Rs 1,000 crore to
Rs 1,500 crore for the state," Public Health Engineering,
Irrigation and Flood Control Minister Taj Mohiuddin said at a
seminar here yesterday.

Mohiuddin said the Government intends to use water usage
charges, levied on power generating companies, to strengthen
power infrastructure in the state.

He said water resources are a trust of the people of the
state with the Government and they have first right over these
projects.

Giving the background of hydel projects in the state and
the interaction the Government has had with the NHPC,
Mohiuddin said Salal hydel project was initially conceived by
Maharaja Pratap Singh in 1922 and in 1969, the Centre offered
to build the project.

"In 1975, the state entered into an agreement with the
Centre about the project execution which was to be built by
the state with free 50 per cent power to J&K and remaining
power sale to be shared equally between state and the Centre,"
he said.

However, the agreement was not adhered to by the company,
the minister added.

PTI



First Published: Tuesday, October 11, 2011 - 14:32

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