Nepal decides to allow India's SJVN Limited to develop second hydropower project in the country

Nepal decides to allow India's SJVN Limited to develop second hydropower project in the country

• Nepal has decided to allow India's Satluj Jal Vidyut Nigam (SJVN) Limited to develop a second hydropower project in the country.
• At present SJVN is developing a 900-MW Arun -III hydroelectric project, a run-of-river located on the Arun River in Eastern Nepal, scheduled to be completed in 2024.
• A meeting of the Investment Board Nepal (IBN) chaired by Prime Minister Pushpa Kamal Dahal Prachanda approved the draft project development agreement (PDA) to be signed with India's state-owned SJVN to develop the 669-megawatt (MW) Lower Arun Hydropower project in eastern Nepal.
• The development comes days before Prime Minister Prachanda's visit to India starting Wednesday. The draft needs to be endorsed by the Council of Ministers before it gets implemented.
• The previous meeting of the IBN had approved 92.68 billion rupees investment for the development of the project.
• "The development of this 669-MW transformative project will prove to be a milestone for the socio-economic development of the country," according to the statement by the IBN.

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Published date : 29 May 2023 05:36PM