Indian company SJVN to construct Lower Arun hydel project

NEW DELHI: Satluj Jal Vidyut Nigam (SJVN), a hydropower-producing company in India, will construct the Lower Arun Hydropower Project in Nepal. A bilateral agreement was made in this regard during Prime Minister Pushpa Kamal Dahal's official visit to India today. The company has also been constructing the Arun-III hydropower project. The project development agreement (PDA) was signed between Nepal and India in the presence of Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi amid a function in New Delhi. Chief Executive Officer of Investment Board Nepal (IBN), Sushil Bhatta, and Chairman of SJVN, Nanda Lal Sharma, signed the PDA from the respective sides. The 54th meeting of IBN held on May 28 chaired by PM Dahal had decided on necessary homework on PDA. The meeting approved the draft document on PDA to be made with the developer company and forwarded it to the Council of Ministers for approval. The Cabinet meeting later endorsed the PDA. The entire power produced from the project will be exported, which is believed to contribute to the economic development of the country. The IBN had approved the investment of Rs 92.68 billion for the 669-MW capacity project. By RSS READ ALSO:

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