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China firms sign USD 3 bn deal to generate hydropower in Nepal

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Press Trust of India Kathmandu
A Nepalese power company today signed a deal with three Chinese firms to develop hydropower projects in Nepal with an investment of up to USD 3 billion.

The joint venture was launched in the capital.

The three Chinese companies are Sichuan Provincial Investment Group (SCIG), Chengdu Xingcheng Investment Group (CXIG) and Qing Yuan Consulting Co (QYEC).

The joint venture between Nepal's Butwal Power Company (BPC) and its Chinese partners will begin with the Lower Manang Marsyangdi Hydroelectric Project located in Western Nepal that would generate over 100 MW of power.

The joint venture is aimed at developing hydro projects that will add up to 1,000 MW to Nepal's electricity grid in the next five years with an investment of up to USD 3 billion, according to media reports here.

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First Published: Nov 24 2017 | 8:20 PM IST

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