Kathmandu, September 17: It’s only on rare occasions that the government meets crucial deadlines. And it did so today.
After days of meetings, the board of directors of the Investment Board Nepal today endorsed the final draft of the Project Development Agreement on 900MW Upper Karnali hydroelectric project on condition that necessary amendments be made to the document.
“The PDA document has been designed prioritising national interest. I expect support from all political parties and stakeholders in project implementation,” an IBN statement quoted Prime Minister Sushil Koirala, who chairs the IBN, as saying.
Kathmandu, September 4: Nepal and India today sealed the much anticipated and debated power trade deal, without incorporating provisions on power generation as requested by the government.
The Agreement on Electric Power Trade and Cross-Border Transmission Interconnection and Grid Connectivity was initialled by Energy Secretary Rajendra Kishore Kshatri and Indian Power Secretary Pradeep Kumar Sinha in New Delhi, Energy Minister Radha Kumari Gyawali said.
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.