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India and Pakistan, in an expensive winner-takes-all race to tap the power of the Kishenganga river in Kashmir, are separately aiming to build large hydro-electric projects just 70 kilometers apart on the same fast-flowing water on their respective sides of the divided region.  India’s Kishenganga hydro-power project, which the government last February priced at US$740 million, involves a 330-megawatt plant in the Gurez Valley. That is about a third the capacity of the 963MW Neelum-Jhelum project planned at an estimated cost of US$2.16 billion in Pakistan-administered Kashmir, the project name reflecting the change from Kishenganga to Neelum of the river’s name as it crosses to the Pakistani side of the divided region.  According to the Indus Water Treaty (IWT) signed between the two countries in 1960, the country whose project is completed first will get the complete rights of this river. Despite the fear of losing billions of dollars and possible international embarrassment, both sides have taken up the gamble and speeded up construction work. Changing climatic conditions add to the pathos of the race. Declining levels of snowfall and receding glaciers in the Himalayas are reducing the water level in most Kashmiri rivers. Read more at http://www.atimes.com/atimes/South_Asia/KA13Df01.html