Nepal has decided to allow IndiasSatluj Jal Vidyut
Nigam(SJVN) Limited to develop a second hydropower project in
the country. At present SJVN is developing a 900-MW Arun -III
hydroelectric project, a run-of-river located on the Arun River in
Eastern Nepal, scheduled to be completed in 2024. A meeting of
theInvestment Board Nepal(IBN) chaired by Prime
Minister Pushpa Kamal Dahal aka Prachanda approved the draft project
development agreement (PDA) to be signed with Indias state-owned SJVN
to develop the 669-megawatt (MW) Lower Arun Hydropower project in
eastern Nepal.
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The decision for development comes days before Prime Minister Prachanda visited India.
The draft needs to be endorsed by the Council of Ministers before
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it gets implemented. The previous meeting of the IBN had approved a Rs 92.68 billion for the development of the project.