Kashmir's economic growth depends on power: Omar | SupportBiz


Kashmir's economic growth depends on power: Omar

Economic growth and holistic development of Jammu and Kashmir is largely dependent on the production of electricity, Chief Minister Omar Abdullah said Tuesday.

Hearing the final arguments, the Intellectual Property Apellate Board (IPAB) reserved its orders on the case between Bayer Corp and Natco Pharma.

Bayer Corp, the north American subsidiary of German company Bayer AG, has challenged in the IPAB the March order of the Controller General of Patents, Designs and Trade Marks of compulsorily licensing Natco Pharma to market the generic version of Nexavar (sorafenib tosylate).

During an inspection of the Baglihar hydroelectric project near Ramban, 140 kilometers north of Jammu, the chief minister said that power generation had been flagged as a major concern by the Jammu and Kashmir government.

Abdullah underlined the importance of hydro-electric projects in the state to harness its vast hydro-electric potential and achieve self-sufficiency in energy generation.

He said that a number of power projects have been launched, while many are in the pipeline to achieve the target of generating over 4000 MW of power during the next 5 years.

Baglihar is tagged as "most prestigious power project in the state".

Its first stage of generating 450 MW was inaugurated by Prime Minister Manmohan Singh in October 2008 and the project started commercial generation of power from April 2009.

The Baglihar plant has generated 10724.06 million units of energy up to end of August, worth Rs.4027.450 crore against an expenditure of Rs.5506.30 crore.

The work agreement for the second stage of Baglihar across the river Chenab has been inked, and work for generating another 450 MW would begin soon.

The cost of the second stage is estimated at Rs.3113.19 crore and completion is expected by 2015.