KATHMANDU, Nov 19 (NNN-NEPALNEWS) – Nepal’s Prime Minister, KP Sharma Oli, inaugurated a China-funded 60 MW Hydro-power Project, which had started producing electricity recently.
Upper Trishuli 3A Hydro-power Project, developed by Nepal Electricity Authority (NEA), the state-owned power production and utility body, and constructed by China Gezhouba Group Company, is located at the border of Rasuwa and Nuwakot districts.
Prime Minister Oli hit the switch, to inaugurate the project, from his office at Singh Durbar, Kathmandu, as he watched the project site through video, along with government officials.
During the inauguration, Prime Minister Oli said, the project would help to reduce electricity import from India, and promote industrialisation and modernisation of agriculture, by increasing the use of electricity. “We will strengthen our economy by completing similar other under-construction projects.”
According to NEA, Nepal’s average demand of electricity is around 1,300 MW and the country has been importing around 500 MW electricity from India.
NEA said, the Upper Trishuli 3A project will run in full capacity for eight months a year, and it will produce 45 MW, even in the remaining four months. “It will fulfil the seven percent of total electricity demand of the country,” Phanindraraj Joshi, chief of the project, said.
NEA developed the project with concessional loan of around 116 million U.S. dollar from China Exim Bank, along with some domestic resources. Total project cost stood at 125 million U.S. dollar, according to NEA. Nepal should repay the loan to China Exim Bank in 25 years, including a grace period of five years.
NEA signed the contract with China Gezhouba Group Company, in May, 2010, to develop the project.
Following the earthquake in Nepal, in Apr, 2015, the project was delayed, as access roads to the project sites were badly damaged by landslides, caused by the quake.– NNN-NEPALNEWS