We will facilitate in removing hurdles in Arun-III project: Environment Minister

KATHMANDU: Minister for Forests and Environment Pradeep Yadav has said his ministry will facilitate the speedy construction of the 900 megawatts Arun –III Hydropower Project, a national pride project. The project is based in Makalu Rural Municipality of Sankhuwasabha district. Minister Yadav said so during a field visit to the project on Tuesday. He said the project will contribute immensely to propping up the national economy. He was determined to the timely completion of the project. "The construction of the Arun-III project will help shore up the national economy.  The Ministry of Forests and Environment is ready to extend any support needed to complete this project," he reiterated. The Forests and Environment Minister said he is serious about the complaints that the project had been facing some problems carrying out its works as some files related to it are under consideration of his ministry and expressed commitment that the project will be given a go-ahead after studying these files. He expressed his belief that the Nepal-India relations will be further deepened with the success of this project, besides making a huge contribution to the national economy. On the occasion, a team from the Ministry, including Minister Yadav and Secretary Pem Narayan Kadel took stock of the project's progress so far. The team had taken stock of the issues faced at the construction sites from the project officials. Minister Yadav commented that the project could accomplish a lot in a short time. India's Sutlej Jal Vidyut Nigam (SJVN) is constructing the project at an estimated cost of Rs 104 billion. The 900(MW) hydropower project will provide 21.9% (197.1MW) of electric power to Nepal free of cost, as per the Project Development Agreement (PDA). Upon the completion of the project, the government of Nepal should pay Rs 4.5 billion in a lump sum to the project for Rs 5 million per megawatt of electricity. Once the commercial production of power begins, the project will be entitled to cent per cent tax exemption for up to 10 years and 50% tax exemption for additional five years, as per the PDA. Furthermore, the raw materials such as cement, rod and steel-related materials to be imported for the project will get 50% exemption in customs. The project is expected to be completed in five years and will be handed over to Nepal in 25 years from the production of electricity. READ ALSO:

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