National investment stressed in affordable projects

Kathmandu, Feb 1: Deputy Prime Minister Chitra Bahadur KC on Monday stressed on developing the Upper Karnali Hydro Power Project with national investment.

Speaking at a programme organized by Upper Karnali Concern Committee, DPM KC called it a wrong trend to hand over one of the cheapest projects to foreign company.

Indian company Mallikarjuna Rao (GMR) is set to develop the project as it has already reached Project Development Agreement (PDA) with Investment Board Nepal (IBN).

DPM KC was of the opinion that giving the contract of project with less than per unit cost of Rs 2 amounted to making wrong use of country’s resources and tools.

The IBN reached the agreement with the Indian company with an aim to generate a total of 900 megawatts of electricity while experts stress the project can generate more than 4,400 megawatts of energy.