Nepal has signed a USD 1.3 billion deal with India, to develop a 679-megawatt Lower Arun Hydropower project, located between Sankhuwasabha and Bhojpur districts in eastern Nepal. As per the deal, India’s state-owned Satluj Jal Vidyut Nigam (SJVN), will develop the 679-megawatt hydropower project in the neighbouring Himalayan nation.
About the project:
- This will be the second mega project undertaken by India in Nepal, after the USD 1.04 billion 900-MW Arun-3 hydroelectric projects.
- The project will be developed under the build, own, operate and transfer (BOOT) model.
- This 679 MW Hydropower project is the single largest foreign investment project in the country, based on the 2017 cost estimates.