Energy Minister Janardan Sharma and Lv Zexiang, president of CGGC Beijing, exchanging the MoU that was signed to develop Budhigandaki Hydropower Project, in Kathmandu, on Sunday, June 04, 2017. Photo: THT
Kathmandu, June 4
The government has signed a memorandum of understanding (MoU) with China Gezhouba Water & Power (Group) Co Ltd (CGGC) today to develop the 1,200-megawatt Budhigandaki Hydropower Project.
Following the decision of the Cabinet on May 23 to develop the project on engineering, procurement, construction and finance (EPCF) model, the MoU was signed between Energy Minister Janardan Sharma and Lv Zexiang, president of CGGC Beijing, at the Prime Minister’s residence today. Prime Minister Puspa Kamal Dahal and Ambassador of China to Nepal Yu Hong were also present in the MoU signing ceremony.
Citing that energy is a critical need of the country for overall development, Prime Minister Dahal expressed hope that CGGC will be able to develop the project within the desired timeframe. The government will repay the loan of the company by selling electricity after the project starts commissioning electricity as the
developer has to develop the project under EPCF model.
The last Cabinet meeting of Prime Minister Dahal before his resignation had selected CGGC to develop the Budhigandaki project. The government has already started distributing money for land compensation to the project affected people.
A version of this article appears in print on June 05, 2017 of The Himalayan Times.
NC says it’s protesting, JSP-N blames NCP of betrayal KATHMANDU, JANUARY 23 Pushpa Kamal Dahal and Madhav Kumar Nepal-led Nepal Communist Party has repeatedly asked the Nepali Congress to join hands in a joint struggle against Prime Minister KP Sharma Oli’s decision to dissolve the House of Read More...
VITORIA-GASTEIZ: Eden Hazard scored his first goal in almost three months while Karim Benzema bagged a brace as Real Madrid eased to a 4-1 win away to Alaves in La Liga on Saturday in the absence of coach Zinedine Zidane. Zidane tested positive for COVID-19 the day before the game so a Read More...
KATHMANDU, JANUARY 23 Nepal Airlines Corporation has repatriated the bodies of 18 Nepali nationals from Malaysia. The national flag-carrier brought the bodies in its wide-body A330 aircraft. Eighteen bodies and the mortal remains of one Nepali were brought here today. NAC had brought ho Read More...
KATHMANDU, JANUARY 23 The National Human Rights Commission has urged the Government of Nepal to implement the recommendations made by it earlier and those suggestions received from the international community in the course of Universal Periodic Review. In the wake of the 37th Session of the Un Read More...
RAJBIRAJ, JANUARY 23 Various programmes were organised to mark the death anniversary of late Gajendra Narayan Singh in various Tarai districts today. In Rajbiraj, Saptari, Gajendra Narayan Singh Research Centre, Saptari, organised different programmes on the 19th death anniversary of Singh Read More...
KATHMANDU, JANUARY 23 Martyrs’ Week celebrations have started from today in commemoration of all the known and unknown martyrs who sacrificed their lives for the welfare of the people and the country. The main celebration committee formed by Kathmandu Metropolitan City today formally started Read More...
KATHMANDU, JANUARY 23 About 10 metric tonnes of waste was managed from the Bagmati River today. Today is the 402nd week of the Bagmati Clean-up Mega Campaign. As part of the campaign, about 100 volunteers gathered on the Bagmati River banks near Minbhawan area and collected garbage, Govind Read More...
KATHMANDU, JANUARY 23 Preparations are under way to dispatch COVID-19 vaccine to all seven provinces. One million doses of the vaccine were received from India under grant assistance on Thursday. According to Spokesperson for the Ministry of Health and Population Jageshwar Gautam, these Read More...