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.
Kathmandu, Nov 21 - The World Bank will finance 25MW solar power plants and other activities to be carried out curb leakages faced by Nepal Electricity Authority (NEA).
The government and the global lender concluded the negotiation on mater on Wednesday.
The World Bank will provide $130 million in loans, while $8 million will be domestic component. Of the total, $54 million will go for solar plants, while rest will be used for reducing transmission loses, according to the Finance Ministry.
Madhu Marasini, chief of the ministry’s international cooperation coordination division, said a World Bank board meeting scheduled to be held in December is expected to approve the deal. “The loan signing and procurement process for solar plants will start immediately after the approval,” he added.
Kathmandu, 18 November: The SAARC member states are almost certain to sign SAARC Framework Agreement For Energy Cooperation during the SAARC Summit later this month. The agreement, which paves the way for cooperation in hydropower development at the regional level, will be signed if Pakistan does not oppose.