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India’s SJVN To Pour In Rs 7,000 Crore To Help More Than Double Nepal’s Power Generation Capacity By 2023-24
Nepal PM K P Sharma Oli and PM Modi. (representative image)
Pushing India's investments and development projects in land-locked Nepal to an unseen high, the state-owned Sutlej Jal Vidyut Nigam (SJVN) is investing about Rs 7,000 crore in the power generation and transmission sector of Nepal, reports Livemint.
SJVN's chairman and managing director Nand Lal Sharma has revealed that the investment which amounts to Rs 11,200 crore (Nepali currency) is the highest ever sum invested in Nepal by any company in the world.
The company is building the 900 MW Arun-3 hydroelectric power plant in Nepal which once completed would more than double the power generation capacity of Nepal. presently, Nepal generates only 750 MW of power, which would surge to 1,650 MW with the project's completion.
The project's foundation stone was laid by Prime Minister (PM) Narendra Modi and his Nepalese counterpart PM Khadga Prasad Oli on 11 May 2018, and the project is set to be commissioned in 2023-24.
Under the project, SJVN is investing Rs 5,724 crore in power generation, and Rs 1,236 crore in power transmission infrastructure in Nepal.
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