India on Saturday said the 450 Mega Watt hydro-power project on Chenab river in Jammu and Kashmir will be completed by June 2006.
The project has been buried in controversy over Pakistan's allegations that the design of the project violates the Indus Water Treaty, a charge India has denied.
"The design is strictly according to the Indo-Pak treaty and will not become hurdle in the peace process," Union Water Resources Minister Priya Ranjan Dasmunshi explained.
He was addressing journalists in Jammu after visiting the project site in Doda district on Friday.
"Although Pakistan has raised objections, we are expecting this issue will be sorted out," he said, adding, "We regret Islamabad's decision to approach the World Bank to help resolve the dispute."
Dasmunshi's visit to Baglihar comes after extensive discussions World Bank neutral expert Raymond Lafitte had with Indian and Pakistani delegations in Paris early in June to understand their points of view.
Dasmunshi dismissed speculation that India and Pakistan might have joint control of the project and share electricity.
"There is no question of sharing electricity with Pakistan," the minister said.
"Once the project is completed, it would not only benefit Jammu and Kashmir immensely on account of power generation. It would also strengthen the economic status of the state," he said.
Dasmunshi said he would be submitting a report to Prime Minister Dr Manmohan Singh on the status of the project.
Lafitte is expected to inspect the project site in October after the visit of a Pakistani delegation.
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