KATHMANDU, March 6: A team of technicians, comprising of hydrologists of China Three Gorges Corporation (CTGC), arrived in Kathmandu on Monday to verify hydrological data collected from the site of West Seti Hydropower Project.
The team will visit the project site for verification of data, according to officials of the Investment Board Nepal (IBN). Madhu Bhetuwal, the spokesperson for IBN, said that the Chinese technicians will verify hydrological data in project site.
CTGC recently received hydrological data of the Seti River collected since 2011. It wants to reconfirm the data, particularly when water flow in the river has dwindled, said Bhetuwal.
The reservoir of the 750-megawatt will covers areas in Doti, Dadeldhura, Baitadi and Bajhang districts.
IBN is also waiting for endorsement of a memorandum of understanding (MoU) signed between CTGC and Nepal Electricity Authority (NEA) in mid-January for forming a joint venture company to execute the project. The board of NEA has already endorsed the MoU. As per the MoU, NEA will have 25 percent stake in the joint venture company.
The MoU is said to be a breakthrough for the development of the mega project which is estimated to cost Rs 160 billion.
The endorsement of the MoU by the CTGC board will pave the way for registration of a JV company at Office of Company Registrar.
Meanwhile, IBN said that it has made needful arrangement for bringing equipments to record hydrological data at the project site.
Analysis of the hydrological data could make changes in the project's estimated capacity and size as well as investments.
CTGC has also pledged to allot 10 percent shares in the company to people in the project affected areas. According to the agreement, CTGC may divest up to 14 percent of its stakes to Nepali private sector. But it would keep 51 percent of shares in the company.
The government had terminated the license of West Seti held by Snowy Mountain Engineering Corporation (SMEC) in June 2011, and issued the license to CTGC. The project is being developed for domestic consumption.
IBN permits NHPC Limited to study and develop West Seti and Set...
