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GMR To Set Up A Power Plant In Nepal

BI India BureauSep 19, 2014, 18:08 IST

Grandhi Mallikarjuna Rao will build Nepal’s largest hydropower plant. The $1.15-billion Upper Karnali Hydropower plant will be the biggest private foreign investment in Nepal.

The Nepal government has given its go-ahead to the proposal. The Nepalese Cabinet approved a draft agreement to allow the company to build the power plant, which would have a capacity of 900 megawatt.

“This agreement would open the door for more foreign investment to enter Nepal to develop hydro power projects,” Govinda Pokhrel of Nepal’s Planning Commission said.

It will take five years for the company to build the plant, and make it operational, including constructing the transmission lines. It will operate the plant for 25 years, and hand it over to Nepal at the end of the term.