Delayed Hydel Power Projects Amid Kashmir's Natural Turmoil

Jammu and Kashmir Bank's MD, Amitava Chatterjee, discusses how recent flash floods have delayed hydel power projects in the region by up to five months. While no direct impact is seen on the bank, potential cost overruns could occur. Natural calamities have severely hit the state's infrastructure and life.

Recent flash floods in Jammu and Kashmir have postponed the completion of hydel power projects by three to five months, said Amitava Chatterjee, MD and CEO of Jammu and Kashmir Bank, on Monday.

While the bank remains unaffected, there's potential for cost overrun due to these delays. The region has suffered a series of natural disasters, including cloudbursts and heavy rains, wreaking havoc on infrastructure and disrupting normalcy.

Currently, five major hydel projects with a total capacity of 3,100 megawatts face setbacks. Despite these challenges, the bank's funding remains secure, and affected companies are managing funding solutions independently.

(With inputs from agencies.)