First Business News Portal in English from Nepal
KATHMANDU: The process to construct the proposed 400 kV new Butwal-Gorakhpur second transnational transmission line between Nepal and India has moved forward. The Nepal Electricity Authority (NEA) has got approval for foreign investment in the project.
Under the joint venture project between the NEA and the Indian Power Grid Corporation, a company will be established in India to do the construction work on the Indian side. For that NEA has to manage Rs 736 million, which is 50 percent share. But, the NEA itself will bear the cost to construct the project on the Nepali side.
The double circuit transmission line is around 120 kilometres between New Butwal substation at Sunawal Municipality-13 in Nawalparasi district and Gorakhpur substation in India. Of the area covered by the project, around 20 kilometres falls in the Nepali side and the remaining in the Indian side.
NEA Executive Director Kulman Ghishing said that with the permission to NEA for foreign investment has paved the way for establishing a company in India on joint venture of NEA and Power Grid for the development of the project. “An article of association and regulation are readied for the company establishment and with the obtainment of a permit for investment from India, the establishment of the company will move ahead,” he said.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
© Copyright 2020. FiscalNepal.com. Website Design and Developed by Genesis Web Technology