Nepal PM Oli and Modi inaugurates Arun III Hydropower Project
Written by : SMTV24x7 | Sat, May 12, 2018, 02:55 AM
Kathmandu, May 11: Nepali Prime Minister K.P. Sharma Oli and his visiting Indian counterpart Narendra Modi jointly laid the foundation stone for the Arun III Hydropower Project remotely from Kathmandu on Friday.
The much-awaited 900-megawatt hydropower project was inaugurated during a joint press conference organised at Battisputali-based Dwarika's Hotel here.
The Investment Board Nepal (IBN) on Thursday granted an electricity generation licence to SJVN Arun III Power Development Company to generate power from the Arun III Hydropower Project located in eastern Nepal.
The IBN awarded the permit to the Indian developer in line with the decision of the 30th meeting of IBN's board of directors chaired by Oli on April 28. SJVN paid the board Rs 5 million as licence fee.