Squeeze On Pakistan: Modi Govt Seeks Rs 3,119 Crore Loan To Fast-Track Kwar Dam On Chenab
The Government of India is seeking a loan of Rs 3,119 crore to fast-track the construction of the key Kwar Dam on the Chenab River in Kishtwar, Jammu and Kashmir. This will be a greenfield storage type project that potentially would impact the water flow to Pakistan, after India's pause on the Indus Water Treaty.
The Chenab Valley Power Projects Limited (CVVPL), a Joint Venture of NHPC Limited and Jammu & Kashmir State Power Development Corporation Limited, is executing the project. The CVVPL has now sought the best competitive interest rates from various financial institutions and banks for raising a Rs 3,119 crore term loan to part finance the 540 MW Kwar Hydro Electric Project. The entire project, which is under construction, is worth total Rs 4,526 crore, CNN-News18 has learnt.
The major milestone of the project i.e. diversion of River Chenab was achieved in January 2024. This is a major landmark for the project as the same has paved way for start of main Dam works which are in progress. Further, works at various front of the project were started during the period with most notable being the start of excavation of 609-metre long Main Access Tunnel. The diversion of river is an important milestone for every Hydro Electric project and is a significant event as construction works of the dam were started subsequently.
The project is located in district Kishtwar of J&K on Chenab river. It envisages construction of 109-metre high concrete gravity dam and the annual generation will be 1975 MU. Prime Minister Narendra Modi laid the foundation stone of the project on April 24, 2022. The government is making all efforts for timely completion of the milestones for early completion of the Kwar HE Project by 2027. The completion of this project will improve the availability of energy in the region which will further accelerate the industrial growth of the country in general and J&K region in particular. The project is located about 28 km from Kishtwar.
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July 11, 2025, 09:34 IST
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