Business
NHPC To Invest Rs 18,000 Crore To Develop Hydropower Projects In Nepal
Seti River in Nepal (Pic Via Wikipedia)
NHPC Limited is planning to invest over Rs 18,000 crore in Nepal to develop two hydropower projects.
The state-run company on Thursday (18 August) signed a Memorandum of Understanding (MoU) with Investment Board Nepal (IBN) for preparation of Detailed Project Report (DPR) and development of two hydropower projects namely West Seti (750 MW) and Seti River 6 project (450 MW) in Nepal.
The MoU was signed by NHPC CMD Abhay Kumar Singh and IBN CEO Sushil Bhatta in the presence of Nepal's Prime Minister Sher Bahadur Deuba.
“We assure you that to complete these projects on time and in a cost-effective manner, we shall use every bit of expertise gained while constructing and operating 22 hydropower projects in close to five decades of our existence. We will also be investing over Rs 18,000 crore to develop these projects," NHPC CMD Singh was quoted in a Livemint report as saying during the MoU signing ceremony.
Singh also said that NHPC will expedite the preparation of DPR of the twin projects and establish the techno-commercial viability of these projects within the set timeframe.
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