Kathmandu, Mar. 10:
A delegation of visiting World Bank directors asked the government to complete the Project Development Agreement (PDA) and Power Purchase Agreement (PPA) negotiations of the 216MW Upper Trishuli-1 Hydroelectric Project as soon as possible.
During the field visit in Haku Village Development Committee (VDC) in Rasuwa district along with the Minister for Finance Dr. Ram Sharan Mahat the other day, the World Bank delegates demanded to complete the PDA and PPA negotiations to open doors for commencing construction works of the project.
They further suggested providing as much benefits as possible to the local people from the development of the project.
Dr. Mahat, in response, assured the World Bank team that he would request the concerned authority to expedite the PDA and PPA negotiations using fast-track processes.
He requested the developer to use local manpower and spend some portion of the budget for the development of the local people and in the district.
Bikesh Pradhanang, a local partner, explained that the development of the Upper Trishuli 1 would help address the existing power crisis in the country.
Stating that the large international investors including IFC were investing in the hydropower projects, he added that the project would not only generate 216MW power, it would rather open doors for foreign direct investment (FDI) in the Nepal’s hydropower disseminating positive message among the large investors.
Park Hak Won, Project Manager of Daelim and Kyeryong J/V, had presented the progress report of the project.
The IFC of World Bank, Korea South East Power Company (KOSEP), Daelim International Company, Kyeryong International Construction Company and Jade Power Private Limited are implementing the joint venture project under the name of Nepal Energy and Development Company (NWEDEC).
Source : The Rising Nepal