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Three Gorges and NEA signs deal to construct West Seti project

By Our Reporter
At a time when the CPN-UML and Maoist leaders have been criticizing the government for scrapping the decision to grant the Chinese company Gezhouba Group Corporation to build the Kaligandaki Hydro project, China Three Gorges Corporation (CTGC) and Nepal Electricity Authority (NEA) recently signed an agreement to jointly invest in the Rs 160 billion West Seti Hydropower project.
NEA executive director Kulman Ghising and CTGC representative signed on the agreement paper last week. The West Seti Hydropower Project will be one of the largest reservoir type hydro projects in Nepal.
The agreement was reached after 10 months of preliminary agreement signed between these two bodies. According to NEA spokesperson, Parbal Adhikari, as per the agreement a joint company would be established to make joint investment for the project.
Accordingly, the Chinese company will invest 75 per cent of the construction cost while 25 per cent shall be borne by the NEA.

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