China-Nepal joint venture gets nod to develop hydropower projects in Nepal

The door has opened for a China-Nepal joint venture to develop three separate hydropower projects.

XINHUA/RSS

The door has opened for a China-Nepal joint venture to develop three separate hydropower projects simultaneously on the Marsyangdi river in western Manang and Lamjung districts after the Investment Board Nepal (IBN) on Tuesday approved proposed investment for the last project.

A board meeting of the IBN chaired by Nepali Prime Minister KP Sharma Oli approved the proposed investment of 33.41 billion Nepali rupees (280 million U.S. dollars) to develop Lower Manang Marsyangdi Hydroelectric Project with a capacity of 139.2 MW, according to a press statement issued by the agency.

Sichuan Provincial Investment Group Co. Ltd, Chengdu Xingcheng Investment Group Co. Ltd and Sichuan Qing Yuan Engineering Consulting Co. Ltd have joined hands with Nepal's Butwal Power Company to develop three hydropower projects under a cascade development model on the Marsyangdi river.

The SCIG International Nepal Hydro Joint Development Co. Pvt. Ltd, the joint venture of the Chinese and Nepali companies, is also preparing to develop Manang Marsyangdi Hydroelectric Project (135 MW) and Upper Marsyangdi-2 Hydropower Project (327 MW) on the same river.

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