Kathmandu, September 1: The much debated Upper Karnali hydroelectric project is expected to bring a windfall with the government standing to earn Rs 144 billion in dividend from equity extended by the developer of the 900-megawatt power project.
This money is exclusive of Rs 121 billion that the project developer will provide to the government in royalty and around Rs 66 billion worth of free electricity throughout the concession period of 25 years. Indian multi-national GMR Group, the developer of the hydroelectric project, has pledged to provide 27 per cent equity in the project free of cost to state-owned Nepal Electricity Authority.
Kathmandu, 28 August: Vice-chairman of the National Planning Commission Govinda Prasad Pokharel has informed that the project development agreement (PDA) of the 900 MW Upper Karnali Hydropower Project will be signed next week.
He said that the study report on Upper Karnali has been already been handed over to Prime Minister Sushil Koirala and the Investment Board Nepal (IBN) will sign PDA with GMR by next week. "The agreement will be of international standard. Nepal's interest will be given due priority," Pokharel said speaking at a function organized by the Reporters' Club Nepal on 28 August.
Kathmandu, 24 Aug: A technical committee formed to review the document of the Power Development Agreement (PDA) between the Investment Board of Nepal (IBN) and India’s GMR-ITD Consortium to develop the 900MW Upper Karnali Hydropower Project has recommended signing the agreement with a few revisions in the document.
The committee, headed by National Planning Commission Vice-chairman Govinda Raj Pokharel, plans to submit the review report to Prime Minster Sushil Koirala on Monday. With differences among members over a few points in the documents, the scheduled plan to submit the report on Sunday was cancelled.