The Prime Minister witnessed the signing of an Agreement for Co-operation between Nepal Electricity Authority and State Grid Corporation of China for Feasibility Study of Nepal-China Cross-border Power Grid Interconnection Project. As per the agreement, the two sides will carry out the feasibility study of 400 kV Kerung-Rasuwagadhi-Galchhi-Ratmate transmission line.
China stands ready to strengthen cooperation with Nepal in infrastructure connectivity, post-disaster reconstruction, trade and investment under the framework of the Belt and Road Initiative, President Xi Jinping said Wednesday.
Xi made the remarks while meeting with Nepal’s Prime Minister K.P. Sharma Oli.
“China and Nepal are friendly neighbors sharing weal and woe,” Xi said. “Since the establishment of diplomatic ties between China and Nepal, the two countries have always carried out mutually beneficial cooperation on the basis of the ‘Five Principles of Peaceful Coexistence.'”
Nepal and China on Wednesday signed eight agreements worth $2.4 billion on the second day of Prime Minister K.P. Sharma Oli’s visit.
These agreements were reached between the two governments and private sectors where Chinese investors will put money on developing hydroelectricity, water resources, cement factories and fruit cultivation and farming.
The signing ceremony took place at the Nepal Embassy in Beijing.
This is Oli’s first official visit to China after returning to power in February and second foreign trip after India.