The Investment Board Nepal (IBN) has formed a panel dedicated to development of West Seti Project, reports My Republica. The seven member panel will take measures against issues in the project.
The Details:
- The panel includes officials from the Ministry of Irrigation and Energy, Investment Board Nepal, Ministry of Finance, Nepal Electricity Authority and local stakeholders.
- The project has been in stalemate after the joint venture partner China Three Gorges Corporation (CTGC) cited issues in the current tariff and demanded assurance for a rate of return on investment.
- CTGC advised the IBN to customize the capacity of the power plant, but IBN officials and Nepal Electricity Authority (NEA) were not able to decide the issue on their own.
- In the project, CTGC has 75 percent stake while NEA has the ownership of 25 percent.
Editor’s Recommendations
- China Three Gorges Seeks Guaranteed Return of 17 percent
- NEA Invites CTGC to Seal Deal for West Seti Hydropower Project
- Government to Scrap Another Hydropower Deal with China
The Latest
-
Honor X8c with 120Hz Display Launched in Nepal with an Early Bird OfferHIGHLIGHTS Honor X8c price in Nepal is Rs. 33,999 (8/512GB). It is powered by the…
-
HMD Crest Max 5G Launching Soon in Nepal – Now Even BetterHIGHLIGHTS HMD Crest Max 5G price in Nepal could be Rs. 21,999 (8/256GB). This phone…
-
Now You Can Buy a Xiaomi Phone on EMI in Nepal Too – Here’s How!HIGHLIGHTS Xiaomi launched its hassle-free EMI service dubbed the “Xiaomi Easy Finance”. The latest Redmi…
