Kathmandu, Aug 19 (UNI) The Investment Board of Nepal has signed a MoU with India's NHPC to conduct a detailed project study survey permit of the 750 MW West Seti and 450 MW Seti River 6 hydropower projects in the country.
According to the MoU, NHPC, the largest organisation for hydropower development in India, will carry out the project and hydrological study in two rivers, the geo-technical survey and drilling work among other things before starting the construction work.
Investment Board of Nepal CEO Sushil Bhatta and NHPC Ltd Chairman and Managing Director Abhay Kumar Singh signed the MoU on Thursday in the presence of Prime Minister Sher Bahadur Deuba.
Deuba said he hoped that NHPC will study these projects on time and start the development process.
"The development of the two projects will contribute to ensure socio-economic prosperity of the country," he said.
"The MoU serves as the initiation of the two projects as well as helps expand bilateral trade with India. I am confident that our neighbour India will increase import of electricity from Nepal to narrow its trade surplus with us," he added.
Deuba urged all concerned authorities to make the projects successful with effective coordination.
NHPC Ltd will prepare the detailed project reports of both the projects as well as conduct environmental impact assessment. The reports will have to be submitted to IBN within two years of receiving the survey permit.
"The people in Nepal will benefit the most from these projects of national pride and I will make utmost efforts to achieve that goal. We invite more investors from India to invest in Nepal. We are making constant endeavours to create an investment-friendly environment in transforming the country's developing landscape," he said.
The NHPC will also set up an office in Nepal for the purpose.
UNI ASU MR