All disputes relating to the country´s biggest hydropower project have been settled from today, paving the way for the construction of the project.[break]
An agreement has been signed between the Ministry of Energy and representatives of the China Three Gorges to construct 750 MW Project.
A high-level Chinese team had arrived here in Kathmandu on August 25 to strike a formal deal.
The Ministry of Energy has expressed confidence for the construction of the project stating that series of talks and discussions have made environment conducive to begin the construction of the project.
Executive Director at the Investment Board, Radhesh Pant, and representative of the Chinese investment company Wang Feng signed the revised Memorandum of Understanding (MoU) at the Ministry, Singha Durbar.
After signing the MoU, Secretary at the Ministry Hareram Koirala said that the 750 MW project would be made a multipurpose one.
"Crucial decision has been made. We are highly encouraged. Construction of the project has been certain," Koirala said.
It is said that the project would be made the multipurpose as per the directive of the Committee on Natural Resources of the dissolved Legislature-Parliament and demand of the locals as well.
With the beginning of the project, a transmission line of 400 KV is also likely to be constructed. The transmission line from Doti to Butwal would be constructed simultaneously with the project.
Secretary Koirala said that the people living in the project-affected areas would be provided with 10 per cent share of the mega project. As per the agreement, 75 per cent share would be given to the China Three Gorges and 25 per cent to Nepal Electricity Authority (NEA). The total estimated cost of the project is Rs 180 billion.
Similarly, of the total electricity generated, 150 MW power would be given to the local people.
The Ministry has assured that no obstacle would now surface while constructing the project that is being built based on participation of government, private sector and citizens.
The Ministry said that the revised MoU was signed after the then Committee on Natural Resources had expressed reservation for not mentioning about the construction of the transmission line and facilities given to the locals.
It is said that Exim Bank of China and China Development Bank have given a nod to offer soft loan for the construction of the project.
Some weeks ago, the high-ranking officials of the China Three Gorges Corporation, China Development Bank and Exim Bank had expressed firm determination for the construction of the project with visiting Nepali delegates including the Prime Minister´s economic advisor Rameshwor Khanal, secretary Koirala and Pant.
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