Syllabus section: economy
Why in news?
Cabinet approves â¹5,282-cr investment for 850 MW Ratle project on Chenab river
About:
• The Ratle project located in Kishtwar district will be developed by a new joint venture co many between state-run NHPC Ltd and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC).
• The task is seen as strategically vital in the context of China developing the controversial China-Pakistan Economic Corridor (CPEC), part of its showpiece One Belt One Road (OBOR) infrastructure initiative.
• According to the Indus Waters Treaty, whoever builds the project first will have the first rights on the river waters.
• The Ratle Hydro Electric Project shall be commissioned within a span of 60 months.
• The project is expected to provide direct and indirect employment to more than four thousand individuals.
• The project includes 133 meters tall gravity dam and two power stations.
Background:
This comes in the backdrop of India’s plan to expedite strategically important hydropower projects in the union territory post its reorganization, as the National Democratic Alliance government plans to fully utilize its share of water under the Indus Waters Treaty of 1960. Chenab flows from India into Pakistan.
Source: Livemint