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Norwegian consortium signs MOU

On 26 July a Norwegian consortium signed a Memorandum of Understanding with the Power Development Corpora-tion in Jammu and Kashmir. The MOU covers the design and construction of the 600MW Sawalkot hydroelectric project. The Norwegian companies involved are Stat-kraft Anlegg and Kvaerner Energy. Constructed is scheduled to last for 6.5 years and the estimated cost, including interest during construction, is estimated at US$1B.