Nepal, India sign deal for Lower Arun Hydropower project

WHY IN NEWS?

Nepal has inked a USD 1.3 billion deal with Satluj Jal Vidyut Nigam (SJVN) of India to develop a 679-megawatt hydropower project in eastern Nepal.

About:

• This will be the second mega venture in Nepal, undertaken by India.
• It is the single largest foreign investment project.
• It is based on 2017 cost estimates.
• To develop the project, a memorandum of understanding was signed by Chief Executive Officer of Investment Board of Nepal Sushil Bhatta and Chairman & Managing Director of SJVN Nand Lal Sharma in Kathmandu.
• This hydropower project will be developed under build, own, operate and transfer (BOOT) model.