J&K grants 40-year land lease for Kiru hydropower project
Jammu, June 9
The Jammu and Kashmir administration has approved grant of 40-year lease with mortgage rights of 1,750 Kanal 17 Marla (87.54 Ha) of land acquired by Collector, Land Acquisition, Kishtwar, for Kiru Hydroelectric Project in Galhar Bhata village of Kishtwar district to Chenab Valley Power Projects Private Limited (CVPPPL) under Rule 13 (ii) read with Rule 16 of J&K Land Grants Rules, 2022.
Kiru project is presently under construction by CVPPPL, which is a joint venture of NHPC Limited & JKSPDC. The work on the project allotted on engineering procurement and construction (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 and immovable assets, including land for grant of commercial loan.
The Administrative Council has accordingly granted approval for lease of land with mortgage rights for 40 years (renewable) in favour of CVPPPL. The project with estimated cost of Rs 4,288 crore is positioned to cater to the power needs of J&K by generating 2272.02 million units of energy annually.
