The Public Investment Board (PIB) has recommended that the 850 MW Ratle hydroelectric power project be developed through a joint venture company of the Jammu and Kashmir Power Development Corporation and the NHPC Limited.
The PIB, in the Union Ministry of Finance, has also recommended an investment approval for Rs 52.81 billion for the project, including an infusion of equity of Rs 8.08 billion by NHPC Limited in the joint venture company. The equity contribution of JKPDC in the company is pegged at Rs 7.76 billion will be provided as grant from the centre.