September 14, 2017
In a move strengthening Indo-Nepal ties, the Government of India has come forward to bear the 65 percent of expenditure of Nepal’s 5,000 MW capacitive Pancheshwar multi-purpose project.
An official information in this regard came out after a formal discussion between Nepali Ambassador to India Deep Kumar Upadhyay and the Indian Union Minister for Water Resources and River Development Nitin Gadkari, yesterday.
“During the course of the meeting on infrastructure-related projects, 5,000 MW bi-national Pancheshwar multi-purpose project dominated the discussion. Keen on its implementation, the Minister (Gadkari) on behalf of the government expressed willingness to bear about 65 percent of the project cost,” said a Ministry official.
According to the official, Gadkari also told Upadhyay that the project will make Nepal a power-surplus nation and help in selling excess electricity to India, besides benefiting both the nations in controlling flood situations.
Under the deal, India is bearing about 65 percent of the project cost and is expecting power sharing on a 50:50 basis.
Prime Ministers of both the countries also discussed the revival of this two-decade old Rs 30,000 crore worth project and have also directed the concerned officials to prepare a detailed project report.