Kathmandu, 11 September: The Government of Nepal and Indian Energy Company GMR on September 19, 2014 had signed the Project Development Agreement ( PDA) in regard with the 900-MW Upper Karnali Hydro Electricity Project. The agreement states that the project will be completed within seven years of the signing of the PDA.
On the contrary, coming September 19 marks the completion of the seven years of the PDA, but the progress of the project is almost nil. The project promoter spends most of its time in survey and other research works. It is yet to make required preparations for the project construction. The agreement has granted two years for the financial closing and remaining five years for the construction works of the project. GMR was selected as the project promoter through a global tender in 2008 by the government. The company’s failure to give an impeteous to the project has pushed it towards uncertainty.
People’s News Monitoring Service
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