Sunday, 20th April 2014

Investment Board plans to sign hydro agreements


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The Investment Board (IB) is planning to sign Project Development Agreement for four major hydropower projects with foreign investment within the next two months. Once the agreements are signed, the construction process can begin.

The board is prioritising major projects to resolve energy crisis in the country.  Board Joint Secretary Mukund Poudel said the agreement signing process will be completed in two months.

The board plans to move ahead with the 900 MW Upper Karnali Project, to be built by Upper Karnali Hydro Power Project Company, led by GMR group.

Other projects that will get a green light are  900MW Arun III, with Indian company Sutlej Power, 600 MW Marshyangdi II and 650 MW Tamakoshi III.

The projects will be constructed in Build, Own, Operate, and Transfer (BOOT) model. The total capacity of these projects is 3050 MW.