Power summit from today

Nepal is hosting Power Summit-2007 from today to find out ways to attract foreign investment in the hydropower sector.

More than 200 companies from Nepal, India and other countries are taking part in this two-day summit. Multinational companies, mainly from India, are showing an encouraging participation in the summit.

The organizers said the summit is being organized to do away with “load-shedding” or power-cuts and create an enabling atmosphere for foreign investment in the export-oriented hydropower sector. Kathmandu was the venue for last year’s Power Summit also.

India’s top industrial and business houses like GMR, PGCIL, IL & FS, IDFC, NNPC and Athena are participating in the summit. Various government and non-government agencies of India, Australia and Norway are also participating in the event.

Organizers said that there would also be active participation of Nepal’s government agencies, private sectors, bank and financial institutions.

The conference which is being jointly organized by India’s Power Trading Corporation (PTC), Nepal Bankers’ Association and Independent Power Producers Association of Nepal (IPPAN) would conclude Tuesday. nepalnews.com ag Sep 17 07