19 Jan, Kathmandu: The Nepal Electricity Authority has on Wednesday given a go-ahead to the West Seti Hydropower Project.
A meeting of NEA Board of Directors held on Wednesday approved the proposal to establish a joint company between Chinese promoters and Three Gorges and decided to inform the Nepal Investment Board about this.
Talking to Rastriya Samachar Samiti, NEA Spokesperson Prabal Adhikari said that the project is on top-priority of the country and Chinese investors have been invited from the Board of Directors as per the direction of the government.
Although preliminary agreement was signed between the government and Chinese side regarding development of the project five years ago, promoters were waiting for Nepal’s decision on various issues including compensation and resettlement.
There will be 77 per cent investment of the Three Gorges and the remaining of the NEA in the 750 MW hydropower project going to be constructed at an estimated cost of Rs 100 billion.
