In A First, India And Bhutan Launch Joint Venture To Build 600 MW Hydro-Electric ProjectPM Narendra Modi (R) and PM of Bhutan Dr Lotay Tshering (L) (Image courtesy of twitter.com/MEAIndia)

In a major development, strengthening the all-weather ties, India and Bhutan have embarked on the first-ever joint venture hydroelectric project between the two nations, reports Times of India.

The concession agreement for the project was signed by the two nations on Monday (29 June), and Union Minister for External Affairs S Jaishankar expressed delight over the development, describing it as yet another milestone in the diverse and multifaceted bilateral cooperation between the two neighbours.

Under the joint venture fashion, the two nations will together build the 600 megawatts (MW) capacity Kholongchhu hydro-electric project in Bhutan. With the concession agreement signed off yesterday by Jaishankar and his counterpart Tandi Dorji, decks have been cleared to commence construction and other works.

The development comes days after Bhutan had last week emphatically rubbished the reports that it had blocked the water channels leading to a shortage of water in Assam needed for the purpose of irrigation.

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