India agrees to invest more money into Pancheshwar Multipurpose Project

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Both sides agreed to design the project so as to ensure maximum total net benefit. 

India has agreed in principle to invest more for the development of the Pancheshwar Multipurpose Project, a move that could pave the way for the development of the mega bilateral undertaking, according to a senior official at the Ministry of Energy, Water Resources and Irrigation.

With the southern neighbour benefiting more from the project’s development, particularly in the area of irrigation and flood control, India agreed to pump more money for its development during the fourth meeting of the team of experts held in New Delhi on Friday and Saturday.

“India has agreed to invest more but we are yet to reach a concrete agreement on additional benefits the southern neighbour will get and extra investment it will have to make,” said Madhu Bhetuwal, joint-secretary at the energy ministry, who is also a member of the Nepali delegation. “But there will be equal sharing of electricity.”

Source: The Kathmandu Post