The Indian company Satluj Jal Vidyut Nigam Limited (SJVN Limited) has been chosen to develop the Lower Arun Hydropower Project under the Public-Private Partnership model. After reviewing the companies listed on the basis of worldwide competitiveness, the 46th meeting of the Investment Board, headed by Former Prime Minister and Chairman KP Sharma Oli at the PM’s house in Baluwatar on Friday, made the decision.
The project, which would have a total capacity of 679 MW, will be built in the Province No. 1 districts of Sankhuwasabha and Bhojpur.
On the occasion of the Investment Conference held in Kathmandu in Chaitra, 2075 BS, the Nepalese government proposed the proposal to investors.
During the meeting, Prime Minister Oli emphasized the importance of coordinating electricity generation and consumption. He directed officials from the government of Nepal’s various bodies to work together in a coordinated manner to complete the infrastructure project on schedule.
Rajesh Kaji Shrestha, Haribhakta Sharma, and Bhavani Rana have been nominated as experts, while Bal Krishna Shivakoti has been invited to join the Investment Board.
Sushil Bhatta, Chief Executive Officer, provided an update on the Investment Board’s strategic strategy, project bank, web-based single point service, and other progress as instructed by the previous board meeting.
The board believes that the lower Arun will cost more than Rs 100 billion to construct.
This project has the potential to increase electricity capacity by up to 1000 MW.
The project is now undergoing a feasibility and comprehensive analysis by the Department of Power Development.
Brass Power, a Brazilian business, held the survey license for Lower Arun.
Under the direction of the Commission for Investigation of Abuse of Authority, the government had cancelled Brass Power’s license for failing to meet the terms.