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Revised MoU on West Seti Hydro Project signed
Added At: 2012-08-28 12:49 AM
Last Updated At: 2012-08-28 12:49 AM
HIMALAYAN NEWS SERVICE
KATHMANDU: Nepal Investment Board and China Water Energy Investment Corporation, a subsidiary of the China Three Gorges Corporation, today signed a revised Memorandum of Understanding on 750-MW West Seti Hydro Project. An MoU was signed in February.
Today’s understanding stresses on the need for seeking soft loan for the construction of transmission line for the project to be constructed in Doti. One of the major features of today’s MoU is that the agreement calls for providing 10 per cent share of the project to the locals. In addition, 150 MW of electricity will be provided for the development of the region (far west)
The MoU also addresses the concerns raised by then parliamentary committee on natural resources and means, which had given 10-point directive and suggestions regarding the project, according a press statement issued by IB.
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