KATHMANDU: The government is likely to expedite the construction works of the much awaited West Seti Hydropower Project after the approval of the legislature-parliament committee on natural resources to forward the construction of the project.
Minister for Energy Posta Bahadur Bogati told RSS, "We will expedite the construction works of the project at the earliest based on public private concept."
Earlier, the Ministry of Energy has signed a Memorandum of Understanding with China three Gorges International Corporation to construct the project based on the public private concept.
The Ministry is planning to approve the deal signed with the Three Gorges from the Council of Ministers. Once the deal was passed from the cabinet, all hassles will be cleared for the construction of the 750 MW project.
Minister Bogati expressed commitment to make the project a success saying that this project is linked to the government's prestige. "The government will abide the suggestions and directives given by the committee on natural resources."
As per the agreement, Nepal Electricity Authority is to invest minimum 25 per cent in share while the Chinese company will invest 75 per cent. Estimated cost of the project is around Rs 120 billion.