The Himachal Herald, Shimla
A Memorandum of Understanding (MoU) for development of 490 MW Arun-4 Hydro Electric Project in Nepal has been signed in Lumbini, Nepal in the benign presence of Prime Minister of India Sh. Narendra Modi and Prime Minister of Nepal Sh. Sher Bahadur Deuba. This historic MoU was signed by Sh. Nand Lal Sharma Chairman & Managing Director, SJVN & Sh. Kulman Ghising Managing Director, Nepal Electricity Authority (NEA).
Speaking on the occasion Sh. Nand Lal Sharma said that the 490 MW, Arun -4 Hydro Electric Project will be developed in Joint Venture (JV) mode by SJVN and Nepal Electricity Authority (NEA) and in this JV, SJVN will be majority stakeholder. The construction of this project upstream of Arun-3 HEP, will be taken up by this JV, which on completion shall generate around 2100 Million Units of energy per annum. The estimated developmental cost of this Project which is situated in Sankhuwasabha District Province-1 of Nepal is INR 4900 Crores.
Sh. Sharma further emphasized that the signing of this MOU is a landmark step towards achieving India-Nepal Joint Vision on Power Sector Cooperation.
Sh. Sharma further informed that, this will be the third Mega Project to be constructed in Nepal by SJVN, in addition to the already under construction 900 MW Arun-3 and 669 MW Lower Arun which is in Survey and Investigation Stage. With signing of this MoU, SJVN now has three projects of total 2059 MW portfolio, in Nepal. Sh. Sharma further reiterated his resolve of SJVN targeting 5000 MW Projects in Nepal by 2030.
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