The Cabinet Committee on Economic Affairs (CCEA) has approved the setting up of the 44MW Chutak hydroelectric project in the Indian State of Jammu & Kashmir.
National Hydroelectric Power Corporation will set up the project on river Suru in the Kargil district at an estimated cost of approximately US$135.5M. Funds earmarked for the 220kV Srinagar-Leh transmission line will be reallocated to this project.
Funding breaks down as follows:
• Equity from government of India: US$40.66M
• Grant from government of India: US$79.44M
• Commercial loan: US$15.46
The project is scheduled for commissioning within a period of 54 months from the date of sanction.