Kathmandu, November 24: The Cabinet today approved the final draft of the Project Development Agreement on 900MW Arun-III hydroelectric project, paving the way for the Investment Board Nepal and Satluj Jal Vidyut Nigam, the project developer, to sign the final agreement.
The final PDA is expected to be signed between the IBN and SJVN tomorrow, Finance Minister Ram Sharan Mahat told The Himalayan Times.
IBN CEO Radhesh Pant will sign the PDA on behalf of Nepal. RP Singh, chairman-cum-managing director of SJVN, will sign the pact on behalf of India’s state-owned SJVN.
Pokhara, November 23: New Road and Lakeside in Pokhara, which plunged into darkness during load-shedding hours, now remains illuminated throughout night after solar streets lamps were installed keeping in view tourist security.
The solar street lights were installed at the joint initiative of Pokhara Sub-metropolitan city, New Road improvement committee and Center for Inclusive Growth.
“Tourists visiting the area faced difficulties while having to pass through the area at night. Installation of solar street lamps have made our lives much easier,” said President of the Pokhara chapter of Restaurant and Bar Association of Nepal, Gopi Bhattarai. “As the road remains illuminated throughout the night, our lives have become a lot easier.”
Kathmandu, November 19: Nepal and India are all set to reach various deals on the margins of the 18th SAARC Summit. The agreements include: Motor Vehicle Agreement (MVA) and Sister-City Agreement.
An India-built Trauma Centre will also be formally inaugurated in Kathmandu and officially handed over to Nepal.
Officials said these agreements will be signed and launched in the presence of Prime Minister Sushil Koirala and his Indian counterpart Narendra Modi on the sidelines of the SAARC Summit scheduled for November 26 and 27.
Prime Minister Modi is arriving via Janakpur on November 25 for the two-day regional jamboree.
Kathmandu, November 20: Securities Board of Nepal (Sebon) is all set to make it mandatory for hydropower developers to mention the status of transmission lines in their prospectus before the initial public offering (IPO).
Currently, the developers can just mention the date when the transmission line would connect to the project. “We are going to put in place a provision, under which the companies will have to exclusively mention about the status of transmission line in their prospectus,” said Sebon Director Niraj Giri.
Giving an instance of Sanima Mai Company’s failure to connect the transmission line to its Maikhola hydropower project, Giri said the delay in the power line construction has emerged as a big risk for investors.
Despite the completion of the 22MW Maikhola Hydro, Nepal Electricity Authority (NEA) has not completed the construction of the transmission line.