The government has asked the Chinese government to provide it with $ 400 million in aid to invest in the 750MW West Seti Hydropower Project and the transmission line for the project.
The government also has the stake in the project which CWE Investment Company, a subsidiary of China Three Gorges Corporation (CTGC), has agreed to develop. As per the revised memorandum of understanding signed between Investment Board Nepal (IBN) and the Chinese Company on August 27, 2012, the CWE will have 75 percent stake in the project with the government holding the rest. The Chinese company reportedly agreed to grant 10 percent stake to the locals of the Far-western region.
As the project requires huge investment, the government sought aid from the Chinese government, according to government officials. “We wrote to the Chinese government about one and a half weeks ago, seeking assistance for the project,” s aid Hari Pandey, under secretary at the International Economic Cooperation Coordination Division at the Finance Ministry. “We have asked the Chinese government to provide as much grant as possible.” The project cost has been estimated at Rs 160 billion.
According to Pandey, a proposal has also been attached with the letter that mentions the amount that the government
would require to invest in the hydropower project and the transmission line. As per the proposal, it requires $ 400 million for the purpose.
Remaining
The government also has the stake in the project which CWE Investment Company, a subsidiary of China Three Gorges Corporation (CTGC), has agreed to develop. As per the revised memorandum of understanding signed between Investment Board Nepal (IBN) and the Chinese Company on August 27, 2012, the CWE will have 75 percent stake in the project with the government holding the rest. The Chinese company reportedly agreed to grant 10 percent stake to the locals of the Far-western region.
As the project requires huge investment, the government sought aid from the Chinese government, according to government officials. “We wrote to the Chinese government about one and a half weeks ago, seeking assistance for the project,” s aid Hari Pandey, under secretary at the International Economic Cooperation Coordination Division at the Finance Ministry. “We have asked the Chinese government to provide as much grant as possible.” The project cost has been estimated at Rs 160 billion.
According to Pandey, a proposal has also been attached with the letter that mentions the amount that the government
would require to invest in the hydropower project and the transmission line. As per the proposal, it requires $ 400 million for the purpose.
Remaining
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