The Jammu and Kashmir government has approved the incorporation of a joint venture company (JVC) Ratle Hydro-electric Power Corporation to implement the 850 MW Ratle hydro-electric project (HEP) on river Chenab in Kishtwar district at an estimated cost of Rs 52.81 billion..
The proposed JVC will have an authorised capital of Rs 16 billion with initial paid up capital of Rs 1 billion, out of which the Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) will contribute Rs 490 million as initial equity. Earlier in January 3, 2021, a memorandum of understanding (MoU) was signed between the government of Jammu & Kashmir, JKSPDCL and NHPC Limited to execute the project.