KATHMANDU, August 19: A memorandum of understanding (MoU) has been signed between the Investment Board Nepal (IBN) and the Indian company NHPC Limited to conduct a detailed project study survey permit of 750 MW West Seti and 450 MW Seti River 6 hydropower projects.
In the presence of Prime Minister Sher Bahadur Deuba, IBN Chief Executive Officer Sushil Bhatta and NHPC Limited Chairman and Managing Director Abhay Kumar Singh signed the MoU on Thursday.
Speaking at the MoU signing event, Prime Minister Sher Bahadur Deuba expressed his belief that NHPC will study these projects on time and start the development process. "I also express my commitment to all kinds of coordination and cooperation on behalf of the Nepal government."
The 52nd meeting of the Investment Board Nepal (IBN) chaired by Prime Minister Deuba gave the company the opportunity to build both projects as per the public-private partnership (PPP) model.
The government has not made it clear on what basis it will be given to Indian companies. According to sources, Nepal will also get 21.9 percent free energy from the West Seti Hydropower Project.
Earlier, the Australian company and the Chinese company had kept this project on hold for a long time.