By: foreignaidnepal
KATHMANDU (Reuters) - A parliamentary panel cleared the way for a Chinese company to build a $1.6 billion hydroelectric plant in Nepal, the Himalayan republic's biggest foreign investment programme, Nepali officials said on Monday.
Nepal's Maoist-led government signed an agreement with China's Three Gorges International Corp in February allowing the firm to construct the 750-megawatt West Seti dam in the northwest.
The project, set to be completed in 2019, is expected to ease the crippling power shortage in Nepal whose economy is still emerging from a decade-long civil war - conflict that scared away investors and slowed infrastructure projects.
Two weeks ago, the Natural Resources and Means Committee of the parliament, asked for the project work to be halted due to allegations of irregularities in awarding the contract to the Chinese company without any international bidding.
The Chinese firm, which was to own a ...
By: foreignaidnepal
By Karan Shrestha - For the development of Electricity Transmission, Asian Development Bank (ADB) and Norway agreed to provide US $ 100 Million aid to Nepal. The project is to be implemented by Nepal Electricity Authority (NEA) hopefully till June, 2017.
Out of the total aid, ADB has agreed to provide US $ 56 Million as a loan amount and remaining US $ 19 Million as a grant to Nepal. On the other hand, Norway has agreed to provide US $ 25 Million of aid as a grant. The agreement was approached and successfully signed in between Joint Secretary at the Ministry of Finance, Mr. Lal Shankar Ghimire and Officer-in-charge of ADB, Kathmandu, Mr. Paoulo Spantigati on behalf of their Government and also institutions respectively.
ADB and Norwegian Government agreed to provide such assistant to Nepal Government for the development of Electricity ...
By: foreignaidnepal
KATHMANDU, March 7: Kuwait government has offered to develop 30 MW Budi Ganga Hydropower Project in the far-western region on grant assistance to help Nepal fight power woes. Saudi Arabia, a popular overseas job destination of Nepali workers, too has promised to decide within a few days about opening its embassy in Nepal.
Nepal managed to garner such responses from the two Gulf countries, which have been providing development assistance for the past four decades and contributing to generating a large chunk of remittances, during the visit of Finance Minister Barsha Man Pun, who returned home after spending six days in the two counties.
"Both the governments have expressed commitment to raising the volume of assistance and also providing aid also in areas apart from infrastructure, irrigation and hydropower, in which they have been providing support for almost four decades," said Pun ...
