Meeting of international investors kicks off

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    KATHMANDU, Aug 28:

    HIDCA meeting of the international investors has begun here today with an objective of attracting further foreign investment in middle and micro hydropower projects of the country.

    Different countries including Nepal, India, Australia, China, United States of America, the United Kingdom as well as countries associated to the European Union have been participating in the two-day meeting organized by the Hydroelectricity Investment and Development Company Limited (HIDCL).

    There is a programme to provide information about middle and micro hydropower projects signed with the Nepal Electricity Authority (NEA) through big national and foreign investors in the meeting organised at financial and technical support of the Asian Development Bank.

    The government has given high-priority for the development of the energy sector in the current fiscal year and to attract further foreign investment.

    The government has allocated Rs. 60 billion in the current fiscal year for the generation, transmission and distribution of electricity.

    Inaugurating the meeting, Minister for Energy, Umakanta Jha, said that the government has given first priority for the construction of middle and micro reservoir hydropower projects.

    Minister Jha said the reservoir hydropower projects could help to end power outage and added that Budhigandaki, Andhikhola and Uttarganga hydropower projects would be brought into implementation for the same.

    Similarly, Energy Secretary, Bishwo Prakash Pandit, said that the meeting is organised to attract further foreign investment to construct hydropower projects in Public Private Partnership (PPP) policy.

    Executive Director of HIDCL, Deepak Rauniyar, expressed the view that priority should be given for the power producing to end the current energy crisis.

    Likewise, Officiating Secretary of the Finance Ministry, Rajan Khanal, said that the government has prepared the investment environment to attract foreign investment for the energy development.

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