The Jammu and Kashmir government has signed a MoU with Jammu and Kashmir Power Development Corporation, NHPC and Power Trading Corporation for execution of the Pakal-Dul and other hydro-electric projects through a JV in the state.

An official spokesman said that the MoU was signed in the presence of Mr Jairam Ramesh, Union MoS for Power advisor to Governor C Phunsog and Mr Anil Razdan, Union Power Secretary Describing the inking of the MoU as a milestone in harnessing vast hydro power potential of the state.

Mr Ramesh said that it would accrue great economic benefits to Jammu and Kashmir. He said with the completion of the hydel power projects, the availability of power in the state would increase considerably to meet the requirement and the work on the Pakal Dul and two other hydel projects on the river Chenab with a capacity of 2100 Megawatt should be started soon.

Mr Ramesh congratulated all the parties for signing the historic MOU, saying the immediate priority should be to register the joint venture company and complete other formalities.

Mr Phunsog said it is an important milestone for harnessing the huge potential al the river Chenab. He said it is the beginning and exuded confidence that more power projects would come up in the state in the near future.