Stories By 'BIBEK SUBEDI'
The Nepal Electricity Authority (NEA) has slashed energy imports from India as domestic hydropower projects have increased their output following a rise in the water levels in the various rivers where the power plants are located.
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Nepal Electricity Authority (NEA), the state-owned power utility has convinced the Indian contractor hired to handle hydro mechanical work of 456 MW Upper Tamakoshi Hydropower Project to outsource its remaining tasks to another firm.
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Investment Board Nepal (IBN) has refuted Finance Ministry’s claims that the government would build the West Seti Hydropower Project with internal resources as stated in the recently released budget statement for fiscal 2018-19.There has been no decision to scrap the pact signed with China Three Gorges Corporation (CTGC)--the potential developer of the 750MW reservoir-type project, the IBN said in a statement on Wednesday.
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The Prime Minister’s Office (PMO) is preparing to sign a pact with China Machinery Engineering Corporation to develop the Tamor Storage Hydro Project even as the Nepal Electricity Authority (NEA) is studying the scheme. The project is planned to be built on the Tamor River in eastern Nepal.
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The government is mulling to restructure Investment Board Nepal (IBN) to permit it to issue one-door approval to all public private partnership (PPP) projects by making a new law.
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Finance Minister Yubaraj Khatiwada on Wednesday said the annual budget targeting a growth rate of eight percent is realistic, as several sectors would contribute to the country’s economy.
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