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 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.