Srinagar, July 13: Jammu and Kashmir government has decided to seek technical reappraisal of the Rs 7500 crore Swalkot Hydel Project from an independent authority. The decision to seek reappraisal for the 600 mw power generating project was taken at a meeting of board of directors of state power development corporation and chaired by chief minister Mufti Mohammad Sayeed.

"Before taking up mega projects, which require high investment and involve high generation cost, we must be sure of the actual cost that is going to have bearing on the power tariff," Mufti said adding, the techno-feasibility of the project must be re-asessed.
He said that a delegation would be approaching the Prime Minister for getting institutional funds for the project which had costed Rs 1800 crore so far.

Mufti also reviewed the execution of Baglihar project.


The previous government had already entered into a contract with NCC led consortium in April 2001 for execution of the project.


Meanwhile, the board accorded sanction for release of Rs seven crore for transmission line to evacuate power from the Baglihar project scheduled to be completed by end of 2004.
Work on Krishenpur-Wagoora transmission line was also reviewed by the chief minister, official sources said adding, he also accorded permission for reconstruction of two km long road near Pul Doda as this stretch is likely to submerge with the construction of 144 meter high concrete dam near Baglihar.


The board of directors also decided to increase the share capital of the corporation upto Rs 5000 crore. The bonds issued by the corporation earlier have been over subscribed by over Rs 42 crore.
Bureau Report