World

Nepal Approves Second Hydropower Project To Be Developed By India

Nepal on Sunday 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, an official statement said.

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 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.

The SJVN has formed a local company, Lower Arun Power Development Company, in Nepal.

The Lower Arun project located in the Sankhuwasabha and Bhojpur districts will not have any reservoir or dam and will be a tailrace development of Arun-III, which will mean water re-enters the river for the Lower Arun project.

This is the third project undertaken, all through negotiation windows, on the Arun River after the 900 MW Arun-III and 695 MW Arun-IV hydroelectricity projects.

Source PTI

Bharat Express English

Recent Posts

Mallikarjun Kharge Slams ‘Batenge Toh Katenge’ Slogan During Jharkhand Campaign

Kharge emphasized that the BJP leaders promote divisive rhetoric as part of their agenda. He…

40 mins ago

Police Arrest Two In Fake Marriage Certificate Racket In Name Of Arya Samaj

DCP Nagar Abhishek Bharti revealed that five couples, including Shivani and Shrikant Yadav, recently filed…

1 hour ago

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

2 hours ago

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…

3 hours ago

US Election: Voting Begins With First Ballots Cast In New Hampshire

This election is one of the most divisive in US history. Harris and Trump have…

3 hours ago

Waqf Bill: Opposition MPs Meet LS Speaker, Lodge Protest Against JPC Chairman Jagdambika Pal

Opposition members alleged that Pal calls JPC meetings without consulting them and restricts their opportunity…

3 hours ago