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New railway line for J&K

By Our Special Correspondent

NEW DELHI NOV. 25. The Government today cleared the construction of a new Udhampur-Srinagar-Baramulla railway line in Jammu and Kashmir by the Konkan Railway Construction Company and the Indian Railway Construction Company on "cost plus 10 per cent" basis.

The Cabinet Committee on Economic Affairs, which took this decision here late this evening, also approved the extension of the accelerated power generation and supply programme in a modified form during the 10th Plan. A major change was reduction in the interest subsidy under the scheme from four per cent to a maximum of three per cent in view of the reducing interest rates. The subsidies for projects in the northeast would however be four per cent.

The CCEA also cleared the proposal for a transmission system associated with the Rihand II 1000 MW super thermal power project at an estimated cost of Rs.1,044 crores. The Rihand-Allahabad-Mainpuri-Ballabhgarh section of the new system would be commissioned within three years and the balance portion in one year.

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