Giant Swedish hydro project hangs in balance
Development Today’s cover story in January 1992 was about the uncertain fate of the giant hydropower project in Kashmir, Uri Dam.
Designed with a generating capacity of 480 megawatts, the SEK 6.4 billion project was being jointly financed by Sida and the Swedish Export Credit Agency, the United Kingdom, the Nordic Investment Bank and the Indian government.
DT 1/92 reported that the kidnapping of two Swedes and continuing lack of security in the region caused Sida to make an unusual move. The agency sought the advice of the new centre-right government on what to do: cancel the project and write off losses of over SEK 1 billion spent already on Uri or move ahead and risk further losses if the project should fail later on.
Companies involved in the SEK 5 billion construction contract were Skanska, NCC, ABB Generation, Sweco and British Kværner-Boving.
Dust from the Bofors weapons trade scandal was still settling, and Prime Minister Carl Bildt was looking to avoid another blow to Swedish-Indian relations, which pulling out of Uri would almost certainly provoke.
DT 1/92 reported that the kidnapping of two Swedes and continuing lack of security in the region caused Sida to make an unusual move. The agency sought the advice of the new centre-right government on what to do: cancel the project and write off losses of over SEK 1 billion spent already on Uri or move ahead and risk further losses if the project should fail later on.
Companies involved in the SEK 5 billion construction contract were Skanska, NCC, ABB Generation, Sweco and British Kværner-Boving.
Dust from the Bofors weapons trade scandal was still settling, and Prime Minister Carl Bildt was looking to avoid another blow to Swedish-Indian relations, which pulling out of Uri would almost certainly provoke.