Srinagar, Jun 08: Administrative Council (AC) which met here under the chairmanship of Manoj Sinha, Lieutenant Governor, J&K approved grant of 40 Year lease with mortgage rights of 1750 Kanal 17 Marla (87.54 Ha) of land acquired by Collector Land Acquisition, Kishtwar for Kiru Hydroelectric Project in village Galhar Bhata Tehsil Nagseni District Kishtwar to Chenab Valley Power Projects Private Limited (CVPPPL) under Rule 13 (ii) read with Rule 16 of J&K Land Grants Rules, 2022.
Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Atal Dulloo, Chief Secretary; Mandeep Kumar Bhandari, Principal Secretary to Lieutenant Governor attended the meeting.
Kiru HE Project is presently under construction by Chenab Valley Power Project Private Limited (CVPPPL) which is a Joint Venture of NHPC Limited & JKSPDC. The work on the project allotted on EPC mode is currently in full swing and is scheduled to be completed by March-2026.
The process has been initiated by CVPPPL for arranging commercial loan for 70% debt component. The lending agencies have made a condition of mortgage of movable & immovable assets including land for grant of commercial loan.
Administrative Council has accordingly granted approval for lease of land with mortgage rights for 40 years (renewable) in favour of CVPPPL and authorizing Administrative Secretary, PDD to take further action regarding signing lease agreements and other actions on behalf of Govt. of J&K. The project with estimated cost of Rs 4288 Cr is positioned to cater to the power needs of Jammu and Kashmir by generating 2272.02 million units of energy annually.
