Latest news with #Pakistan-bound
Mint
16-05-2025
- Business
- Mint
J&K seeks stake, revenue share in NHPC's ₹22,700 crore Sawalkot hydro project
New Delhi: Jammu & Kashmir is negotiating for a stake and revenue share in the 1,856 MW Sawalkot hydroelectric project on the Chenab river, currently with state-run NHPC Ltd, as it seeks to secure a direct income stream, according to three people familiar with the matter. NHPC estimates the project will require an investment of ₹22,700 crore, with the state-run major having already spent ₹973 crore on a detailed project report (DPR). The project is expected to generate an annual revenue of approximately ₹4,024 crore at a projected tariff of ₹5.5 per unit and a plant load factor of around 45%, according to industry estimates. The Jammu & Kashmir (J&K) government is in talks with the union power ministry to either develop the Sawalkot project independently through Jammu Kashmir Power Development Corp. (JKPDC), a state-owned entity, or through the joint venture (JV) Chenab Valley Power Projects (CVPP), where JKPDC holds a 44.71% stake, the people said. Read this | India to fast-track hydropower plans on Pakistan-bound rivers after treaty suspension If JKPDC secures a stake and a share of revenue, it could earn around ₹1,800 crore annually, according to one of the three people. 'The decision is yet to be made on whether NHPC, JKPDC, or the JV will undertake the project." NHPC, meanwhile, has sought concessions on state GST and water cess to keep the tariffs viable, a second person said, adding that if a decision is taken swiftly and the project receives central clearance, Sawalkot could be completed and commissioned by October 2033. "Jammu & Kashmir government may look at offering some concessions in case, if its is given stake in the project in the form of the joint venture and Centre provides incentives for equity stake by the state," a third person said. Queries sent to NHPC and the union power ministry remained unanswered at the time of publishing. JKPDC officials could not be reached immediately. An NHPC official, requesting anonymity, said the state department may find it challenging to undertake the project independently given the high capital requirement. 'They may push more for the JV route, as they have in other projects," the official said. If the state government takes over the project, it would need to reimburse NHPC for the amount spent on the DPR, plus interest. In the case of a joint venture, it would be required to pay a proportional share of the DPR costs, the NHPC official said. States often prefer ownership stakes in hydropower projects for assured long-term revenue, given these projects' high capital expenditure but low operating costs, water being the primary 'fuel." Control also provides a say in operations, crucial where large-scale land use, water resources, and population displacement are involved, industry experts said. The Centre has historically incentivized state equity in hydropower projects to fast-track development, a policy paused for some projects in FY26 but expected to resume, making joint ventures attractive, the third person said. Indus Water Treaty suspension and hydropower push India's hydropower push in J&K has gained new momentum after the Centre suspended the 1960 Indus Waters Treaty with Pakistan following a terrorist attack in Pahalgam in April that claimed 26 lives. The treaty, signed under World Bank mediation, had capped India's storage capacity on rivers flowing into Pakistan at 3.6 million acre feet (maf). With the treaty now in abeyance, India is exploring dams and reservoirs for flood control on the Indus, Jhelum, and Chenab rivers, which have a combined average annual runoff of 136 maf, 40% of which originates in India. In other words, approximately 54.4 maf of water comes from Indian territory. Read this | Mint Explainer: India puts Indus Waters Treaty on ice—what's at stake for both sides On the hydropower front, the Centre is also pushing to complete and expand projects, with Sawalkot identified as a potential storage site given its early-stage status. 'Projects on these key rivers do not have large storage capacities. As the government looks at creating reservoirs to store water, Sawalkot could be a key project where storage can be incorporated as construction is yet to begin. However, it would require a fresh DPR, new investments, and extended timelines," said the second person. J&K's current installed hydropower capacity stands at just over 3 GW, far below its estimated potential of 18,000 MW. JKPDC, with an annual turnover exceeding $150 million, operates the 900 MW Baglihar project, which is governed by the Indus Water Treaty. It also manages 175 MW of gas turbine power at Pampore near Srinagar. In a March address to the J&K assembly, Jal Shakti minister Javed Ahmad Rana highlighted the region's untapped hydropower reserves, noting that the Chenab basin alone could support 11,283 MW, with another 3,084 MW in the Jhelum basin and 500 MW in the Ravi basin. J&K's infra push India, meanwhile, is ramping up infrastructure development to bolster both civilian life and military readiness in the sensitive region. From critical mineral extraction and railway links to waterways and fortified highways, an array of projects is being fast-tracked. Among these, hydropower and water transport are gaining renewed focus. On 12 May, the Inland Waterways Authority of India (IWAI) opened its office in Srinagar, marking the launch of a series of river navigation projects in J&K. This includes developing infrastructure on three national waterways—Chenab (NW-26), Jhelum (NW-49), and Ravi (NW-84). Also read | Broken dams, crippled plants: Climate calamities hike insurance costs for hydropower firms The plan involves setting up floating jetties at ten locations, dredging key stretches for navigability, installing night navigation aids, and conducting regular hydrographic surveys to ensure safe passage of vessels.
Gulf Today
13-05-2025
- Business
- Gulf Today
UAE airlines resume flights as Pakistan fully reopens its airspace
Air travel between Pakistan and the UAE has resumed, with flights now operating from Dubai, Abu Dhabi, and Sharjah airports to multiple destinations in Pakistan, following the ceasefire agreement reached between the two countries after four days of hiatus. According to the UAE aviation authorities, major airports in the Emirates have restarted operations for Pakistan-bound flights. The first flight to Islamabad is set to depart on Monday (May 12), while services to Peshawar's Bacha Khan Airport will begin on Tuesday (May 13). Earlier, Pakistan has fully reopened its airspace for all types of flights as tensions eased with India following a ceasefire agreement. The two neighbouring nations had closed their airspaces multiple times since Wednesday, when India launched missiles into Pakistan, triggering a series of hostilities. The Pakistan Airport Authority (PAA) has announced that the airspace has been fully restored for all types of flights and issued a fresh notice to airmen (NOTAM). "All airports in the country are available for normal flight operations," a spokesman for PAA said. He requested passengers to contact the airline for the latest flight schedule. However, the normalisation of flight operations is expected to take time as passenger aircraft and other equipment were shifted to safe locations as a precaution during escalating tensions between Pakistan and India. Officials said the aircraft are being brought back to the operational area for routine operations. The Pakistan International Airlines (PIA) has also resumed flight operations following the reopening of the airspace. The national carrier's flight PK750, coming from Paris to Islamabad, which was diverted and landed in Quetta early on Saturday, later returned to its original destination, said PIA spokesman Abdullah Hafeez Khan. Other operations of PIA would also resume from 10pm and all grounded or delayed flights would become operational, he said. Passengers who had returned to their homes or hotels are being contacted to return to the airport. "We apologise for the inconvenience caused to passengers due to the air closures and affected flight operations, but caution was necessary given the circumstances," the statement added. The disruption of flight operations for days stranded hundreds of travellers in Pakistan and abroad. Meanwhile, efforts to sustain the ongoing Hajj operations are being made by various airlines, which are working to ensure continuity despite operational challenges at major airports.
Express Tribune
11-05-2025
- Business
- Express Tribune
UAE airlines resume flights as Pakistan restores full airspace operations
Listen to article UAE carriers have resumed flight operations to Pakistan and India following the ceasefire agreement reached between the two countries after four days of intense fighting, Gulf News reported. UAE airlines—Emirates, Etihad, flydubai, and Air Arabia—announced a partial resumption of services to Pakistan early Sunday, May 11, with operations subject to the evolving security situation in the region. In a statement, the Pakistan Airport Authority (PAA) confirmed the full restoration of national airspace and released an updated Notice to Airmen (NOTAM). 'All airports across the country are now available for normal flight operations,' a PAA spokesperson said. The authority has advised passengers to contact their respective airlines for updated schedules. Despite the reopening, officials warned that flight operations may take time to fully normalise, as several aircraft and ground service equipment had been relocated to secure locations during the escalation. UAE aviation authorities also confirmed that major airports in the Emirates have restarted services for Pakistan-bound flights. Dubai International Airport reported resumed scheduled operations to Karachi, Lahore, Sialkot, Peshawar, and Islamabad. The first flight to Islamabad is scheduled to depart on May 12, while services to Peshawar will begin on May 13. In Abu Dhabi, flights to Islamabad, Karachi, and Lahore are now operational, although some flights have been rescheduled. Authorities have urged travelers to confirm their bookings with airlines or airport customer service. Similarly, Sharjah Airport has resumed services to Pakistan, with its national carrier continuing routine operations. Major international airlines based in the UAE, including Emirates, Etihad, flydubai, and Air Arabia, have also confirmed the phased resumption of flights to key Pakistani destinations beginning May 11. However, despite these efforts, dozens of flights remained in limbo on Sunday. According to the official flight schedule, 45 flights from Karachi (including 39 international), 38 from Lahore (32 international), 40 from Islamabad (36 international), 11 from Peshawar, 10 from Multan, and 6 from Sialkot were canceled. Meanwhile, flights between India and the UAE remain significantly disrupted. As of May 10, the Airports Authority of India (AAI) and other relevant agencies issued multiple NOTAMs announcing the temporary closure of 32 airports in northern and western India to all civil flights. These closures, effective from May 9 through 5:29 am IST on May 15, have been attributed to 'operational reasons,' according to the AAI. Affected airports include key facilities in Amritsar, Srinagar, Jammu, Chandigarh, Jodhpur, Bhuj, Leh, and others across Punjab, Rajasthan, Gujarat, Himachal Pradesh, and Jammu & Kashmir. There have been no official updates from AAI since the initial notice, although sources report that many flights—both domestic and international—have been rerouted to India's main hubs, Delhi and Mumbai, resulting in significant delays and passenger inconvenience.
Mint
09-05-2025
- Business
- Mint
Insurance premiums for RE, hydro projects set to rise amid escalating conflict with Pakistan
New Delhi: Insurance premiums for renewable energy and hydropower projects are likely to increase amid escalating tensions between India and Pakistan, raising the overall cost of these projects. Several solar and wind projects that are not covered against war or conflict are looking at getting additional coverage, said an executive with a renewable energy company. This hike in premium is expected against the backdrop of increased aerial activity, with attempted missile attacks and shelling in parts of Punjab, Rajasthan and Jammu and Kashmir. Also read: Cyberattacks fresh in mind, India raises grid security after Pahalgam The hydropower and green energy projects in the border states are already on high alert amid increased security. Rajasthan and Gujarat have large land parcels along the western border that contribute over 35% or 39 GW of India's installed solar capacity of 105.65 GW. Similarly, Jammu and Kashmir and Himachal Pradesh in the north have significant hydropower potential, with a combined installed capacity of nearly 15 GW, and several projects under construction. A.K. Singh, general manager, National Thermal Power Corporation, hydro headquarters said: 'The premiums would rise in the current scenario given that there are several solar and wind projects in the border areas and about eight hydro projects are there in Jammu and Kashmir, which are already under high alert. Some solar and wind projects, however, do not have coverage against damages due to conflict or war. If these projects go for an additional or fresh insurance coverage now, the cost would be hefty as many of these projects are in bordering states." Major hikes in premiums were most recently seen in 2021 post the pandemic and in 2022 during the height of the Russia-Ukraine war. According to Vikram V, vice president and company group head, corporate ratings, Investment Information and Credit Rating Agency Ltd, given that a large number of real estate developers do not have coverage of war in their insurance policies for green power projects, going ahead lenders may seek the coverage for financing projects. Amit Agarwal, managing director and chief executive officer, Howden Insurance Brokers India Pvt. Ltd, noted that although rate hikes have not been implemented so far, there may be changes due to the situation in the border areas. Also read: India to fast-track hydropower plans on Pakistan-bound rivers 'In the case of land-based property risk, clauses clearly exclude war risk cover and war-like situations. Running projects will not be affected, however, annual operational policies, particularly operational ones (hydro plants situated in difficult terrain like that of the Himalayas), have been the worst affected in securing a viable insurance policy structure. There may be some decline or rate hikes due to conditions in bordering areas. As of now, nothing has been imposed by reinsurers," said Agarwal, adding that the terms and conditions would be uniform in war and war-like situations, although there may be more hikes for border states when selecting risks. Azeem Kanjiani, member, executive board, Reinsurance, Prudent Insurance Brokers, said projects currently have an annual policy in place for riots, strikes and malicious damage and there is a separate policy to cover terrorism and sabotage. 'Hence, the current projects are largely indifferent. Having said that, war cover is sought by most projects and infrastructure risks will attract significant premium, if war cover is indeed available. Projects up to 200 km from the border would be uninsurable for war. Other projects might get war cover depending on occupancy and exposure. Some insured (projects) have availed war cover and they perhaps would be the ones at peace. Having said so, the war portion can be cancelled with notice of three to seven days," Kanjiani added. Also read: Thermal power capacity addition slows 32% in FY25 due to project execution problems With an installed renewable energy capacity of 231.81 GW, India is among the top destinations for investments in sustainability and new energy space. By 2030, India is projected to require investments of around $200 billion to establish real estate projects by 2030, according to Nomura, as it eyes to achieve a cumulative non-fossil capacity of 500 GW.
Mint
09-05-2025
- Politics
- Mint
India-Pakistan conflict: Govt eyes Chenab Rail Bridge for troop, supply movement
With tensions simmering with Pakistan, India's railway ministry is exploring the possibility of opening the world's tallest railway bridge over the Chenab River for the movement of defence personnel and essential supplies, according to two people aware of the development. The Chenab Rail Bridge, located in Jammu and Kashmir's Reasi district, connects remote mountainous terrain and is crucial for improving access to the Kashmir Valley. Part of the newly completed Kashmir railway network, the bridge, rising 359 metres above the riverbed, enhances strategic connectivity across the Pir Panjal range, helping bypass landslide-prone roads and drastically cutting travel time. While the bridge is yet to open for general passenger movement, its early use can strengthen military logistics and civilian supply chains in the region, said one of the persons cited above. Read this | India steps up economic pressure on Pakistan, seeks to block third-country trade 'The trail of the last leg of Kashmir Rail project has tested stability and strength of tracks with test trains running at a speed 110 km per hour on the 180-degree rising grade. This could facilitate any train load required for movement in current tense times. The infrastructure has been developed to support both civilian and military movement," said the the other person cited above. Safety inspections of the railway line between Katra and Banihal, the last segment of the Kashmir train network, were completed earlier this year by the Commissioner of Railway Safety. It would be made available for running freight and military trains for faster, safe, and efficient deployment of troops and equipment, as well as essential items, said the first person cited earlier. Queries sent to the ministry of railways remained unanswered till press time. M.K. Gupta, a former member (engineering) of the Railway Board, said the bridge and other railway infrastructure in Kashmir are fully equipped for both civilian and military use. 'Government policies follow a uniform structure for developing infrastructure projects. Like at other places, railway infrastructure in Kashmir, including the world's tallest Chenab bridge, is fully capable of handling all kinds of movement including carrying troops and heavy military equipment," he said. Earlier this year, the Railways had aimed to open the Jammu-Katra-Srinagar route for passenger movement, but last-minute work delayed the launch, the first person said. However, the line has already been tested multiple times for train movement of all kinds, and top government officials have been informed that it could be opened for military and essential goods transport in the interim, the person added. Read this | India to fast-track hydropower plans on Pakistan-bound rivers after treaty suspension Railway minister Ashwini Vaishnaw had earlier indicated that the route, along with a Jammu-Srinagar Vande Bharat train, would open soon, covering the distance between the two junctions in just over three hours. He did not specify a timeline for commercial operations. Katra-Banihal: The most challenging stretch The 111-km Katra-Banihal section, part of the 272-km Udhampur-Srinagar-Baramulla Rail Link (USBRL) project, is one of the most technically demanding railway projects undertaken in India post-Independence. It traverses the young Himalayan range, notorious for geological challenges, and predominantly involves tunnelling—97.42 km out of the 111 km. The longest tunnel, T-49, stretches 12.77 km, making it the country's longest transportation railway tunnel. This segment also includes the iconic Chenab Bridge, the highest railway arch bridge in the world, and the Anji Khad bridge, Indian Railways' first cable-stayed bridge. The seven stations in this section—Khari, Sumber, Sangaldan, Sawalkote, Dugga, Bakkal, and Reasi—are built partly inside tunnels or on bridges due to space constraints, and the entire section is electrified. Also read | Mint Primer: Does Pakistan have the wherewithal to fight India? Beyond the Kashmir Rail network, dedicated freight corridors (DFCs) on the Eastern and Western fronts are already facilitating rapid military logistics. Designed for heavy freight, the DFCs enable swift transport of military gear, including tanks, a critical advantage during potential conflict scenarios.
