J&K finalizes 3 CPSUs for Rs 600 cr works in power

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JAMMU In a significant decision that would lead to immediate start of held-up schemes of power development, the State Government today finalized three Central Public Sector Undertakings (CPSUs) for initiating works in eight districts after negotiating the rates from 12 per cent of the project costs to 8 and 8.5 per cent.
The agreement was cleared at a high-level meeting between State Government, Union Power Ministry and top officials of CPSUs in New Delhi. Three CPSUs, which have been picked for allotment of works after negotiations, included Rural Electrification Corporation (REC), Power Grid Corporation of India Limited (PGCIL) and Power Development Corporation Limited (PDCL). Deputy Chief Minister Dr Nirmal Singh, Incharge Power Development Department, who led Jammu and Kashmir delegation at the meeting, told the Excelsior that rates have considerably been brought down from initial 12 per cent of project costs to 8 per cent for transmission lines and 8.5 per cent for distribution. As per the agreement, the CPSUs will now take up works under various schemes in eight districts immediately including Leh, Kargil, Pulwama, Shopian, Ganderbal, Udhampur, Reasi and Ramban followed by others. “The works will be completed within 30 months,’’ official sources said. They added that the Central PSUs have taken up works in various parts of the country at minimum rate of 10 per cent (of the total cost of project) at Union Territory of New Delhi and maximum up to 15 per cent. In case of Jammu and Kashmir, they had been asking for 12 per cent charges and finally came down to 9.75 per cent. After further negotiations taken up by the State Power Ministry, they stuck to 9.25 per cent.

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