| A consortium comprising GMR Energy Limited, GMR Infrastructure Limited (GIL) and Italian-Thai Development Project Co. has signed a Memorandum of Understanding (MoU) with the Govt. of Nepal, for developing the 900 MW Upper Karnali Hydro electric Project, in Nepal.The project will be developed on a Build, Own, Operate and Transfer (BOOT) basis.The event successfully concludes the first ever International Competitive Bidding (ICB) process of award of large Hydro Power Projects in Nepal, which followed a rigorous multi-layered evaluation process, lasting 12 months.
The plant is scheduled to be commissioned by the end of 2016.
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