Having faced several problems since 2014 immediately after the work started on the prestigious 850 Mega Watt Hydroelectric Project on River Chenab in Kishtwar district, efforts have now been redoubled in finding ways in restarting the work on it and the State Government has , as a last resort, approached the Union Government with five joint venture model . The foundation stone and all the associated enthusiasm about it was seen in mid 2013 with the hope that the project would see the light of the day by bringing light to the homes and institutions by February 2018. It is unfortunate that the year 2018 is almost nearing its conclusion but how to restart the work on the project has become a problem hence submission of a five Joint Venture model.
While Indian Institute of Technology (IIT) Delhi has completed the asset mapping and was shortly going to submit report to the arbitrator next month in respect of the claims of M/s G V K Power about the quantum of work “completed” , many traders have objected to the decision about the Joint Venture on the Project as was decided in the State Administrative Council last month . The Power Development Department has submitted five models of Joint Venture based on ownership proportion with 15 to 25 percent free power including Local Area Development Fund to the Union Ministry Of Power. It is , as such, left to their discretion for arriving at the best possible option. While the concerns of the traders could be genuine to some extent, the fact of the matter is that despite the best available talent and enterprise available locally, hardly any project can be claimed to have been executed by them with better alternatives like cost, timeframe and quality. Joint venture especially in a mega project like the one under reference seems the best option.
Since the time is running out, the Union Power Ministry has been requested to take early decision on Joint Venture as recommended and forwarded by the State Government. It is hoped all the Joint Venture models would prove very favourable to the state keeping in view the issue of ownership percentage remaining with the state. Once a favourable decision was taken, it is hoped that the selected Joint Venture Company would take decision about how to restart the work on the Hydroelectric Project from the point where GVK Power left the work . It is an admitted irritant that the project has already passed the stage of its cost overrun of Rs.740 crore which added to the original cost of Rs. 5517 crore shoots up to over Rs. 6257 crore. It should , therefore, be everyone’s concern to see this project through as early as possible as it is not only most conveniently located but is with promises of making the state take the biggest leap towards power self sufficiency.
Since the arbitrators have given a go ahead clear signal to the State Government for arranging restarting of the work on the project, notwithstanding refuting or endorsing the claim of the GVK Power- as the golden or thumb rule of arbitration was not to be taken for allowing fate of the project under dispute to remain undecided indefinitely, it should, therefore pave the way for taking an early decision on according approval to Joint venture to reinstate the project and proceed ahead.
Trending Now
E-Paper
Follow our WhatsApp channel