First Business News Portal in English from Nepal
KATHMANDU: A memorandum of understanding for the construction of 490 megawatts Arun-4 hydropower project has been signed between the governments of Nepal and India.
Executive Director of Nepal Electricity Authority (NEA), Kulman Ghising and Chairperson of the Indian hydropower company Satluj Jal Vidyut Nigam, Nanda Lal Sharma signed the MoU for the joint venture semi-reservoir- based hydropower project in presence of Prime Minister Sher Bahadur Deuba and his Indian counterpart Narendra Modi in Lumbini on Monday.
NEA has a share of 49 percent investment and the Nigam 51 percent in the estimated Rs 79.1 billion project located at the upstream of the Arun-III hydropower project in Sankhuwasabha.
The semi-reservoir project will be located downstream of the under construction Arun-3 Hydroelectric Project and upstream of the proposed Sapta Koshi High Dam project. The dam site of the project will be located at about 34 km upstream whereas the powerhouse site will be 7 km upstream from the Tumlingtar Airport.
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