PM's China Visit: MoUs signed to develop eight different projects

BEIJING: Eight different agreements have been signed between Nepal and China in Beijing in the presence of Prime Minister KP Sharma Oli today.

Agreements were signed between the government and private companies of both countries to develop hydropower projects, cement industries, and fruit industries among others, amid a function organised at the Embassy of Nepal in Beijing.

Different Nepali and Chinese investors have signed separate memorandum of understandings (MoUs) on the occasion, as reported in Rastriya Samachar Samiti.

Chief Executive Officer (CEO) of Investment Board Nepal (IBN), Maha Prasad Adhikari and Vice President of Huaxin Cement of China, Xu Gang signed the project investment agreement between the IBN and Huaxin Cement. The Chinese firm has pledged Rs 14.4 billion of FDI to generate 3,000 metric tonnes of cement per day.

Likewise, MoU was signed between Government of Nepal's Ministry of Energy, Water Resources and Irrigation, and China Communications Construction Company to prepare a detailed feasibility study on Eastern Tarai Irrigation System in Biring, Kamala and Kankai rivers. Joint Secretary at the Ministry of Energy Dinesh Kumar Ghimire and Deputy General Manager of China's Communications Construction Company Liu Dongyuan signed the agreement.

Similarly, MoU was signed between President of Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Bhawani Rana and Chinese investors to establish fruits industries. Over 46 million US dollars would be invested in this project.

Joint Development Agreement among Yunnan Xinhua Water Conservancy and Hydropower Investment Company, Hydrosolutions Group and Shanghai Investigation, Design and Research Institute was signed for the development of 164 MW Nepal Kaligandaki Gorge Hydropower Project.

Executive Chairman of Nepal's Hydrosolutions Gyanendra Lal Pradhan, Xu Jianxiang of Yunnan Xinhua Water Conservancy and Hydropower Investment, and S Xiaoquang of Shanghai Investigation, Design and Research Institute jointly signed the MoU in Beijing today. The project would be developed in BOOT model.

Furthermore, an agreement was signed for the construction of 40.27 MW Siuri Nyadi Hydropower Plant Project in EPCF model. Shailendra Guragain of Siuri Nyadi Hydropower Plant Project and Zhang Yanfei of National Electric Engineering Company signed the MoU.

On the occasion, agreement between Nepal Pashmina Industries Association and One Belt One Road International Trade Platform of CIC Mutual Trade Investment Company was signed for the sale of Nepali pashmina in China. The purchase order from China would be between 200,000 to 500,000 pieces every year.

President of Nepal Pashmina Industries Association Durga Bikram Thapa and Chairperson of OBOR International Trade Platform of CIC Mutual Trade Investment Company Shu Ya signed the MoU to this effect.

Likewise, MoU on Framework Agreement for Cooperation in Marsyangdi Cascade Hydropower Project of 600 MW was signed between Chairman of Butwal Power Company of Nepal Padma Jyoti and the representatives of Sichuan Investment Group Company, Chengdu Xingcheng Investment Group Company and Sichuan Qingyuan Engineering Consulting Company.

Finally, MoU was signed on Cooperation Framework Agreement for the Construction of 75 MW Trishuli Galchhi Hydropower Project in EPCF Model. Nepal's Siddhakali Power Company Chairman Guru Prasad Neupane and Vice President of Dongfang Electric International Corporation Chen Qiang signed the document for the project construction.