
Nepal, India sign MoU to construct Arun-4 hydropower project
KATHMANDU: A bilateral memorandum of understanding for the construction of the identified 490.2 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 and operation manager of the Indian hydropower company Satluj Jal Vidyut Nigam, Nanda Lal Sharma signed the MoU for the joint venture semi-reservoir based hydropower project between the NEA and Nigam, in the presence of Prime Minister of Nepal, Sher Bahadur Deuba and his visiting Indian counterpart Narendra Modi.
During the visit of PM Deuba to India in the first week of April, an agreement was reached between the two countries to construct the project.
NEA has a share of 49 percent investment and the Niga...