Kathmandu: Nepal-India Chamber of Commerce and Industry (NICC) led by president Sunil KC met with the visiting Indian Minister for Power, Housing and Urban Affairs Manohar Lal Khattar on Wednesday and appraised him of energy cooperation possibilities between the private sectors of two neighboring countries.
During the meeting, NICCI president KC appraised him of immense possibilities of energy cooperation between the private sectors of both the countries as the Power Trade Agreement has already been signed by two governments. “NICCI will help facilitate the investment in energy from Indian private sector to take maximum benefit from recently signed Power Trade Agreement,” KC said, adding that the Business-to-Business (B2B) collaboration is key to expand the horizon of the trade and investment between the two South Asian neighbors. “The recent Nepal-India power deal followed by Tuesday’s signing of memorandum of understanding on cross border transmission line has opened new avenues for both the countries to join hands in economic development.”
Nepal and India signed a crucial memorandum of understanding (MoU) on cross border transmission line on Tuesday in the presence of Minister for Energy, Water Resource and Irrigation Deepak Khadka and visiting Indian Minister for Power, Housing and Urban Affairs Khattar. The MoU, signed as per the agreement made by the 12th meeting of the Nepal-India Secretary Level Joint Directive Committee held in New Delhi two months ago, will help establish a joint company for the construction of 400 KV Inaruwa-New Poorniya and Dodhara-Bareli Transmission Line.
The Indian Minister arrived Kathmandu on Tuesday at the invitation of Minister for Energy, Water Resources and Irrigation Khadka, and is leaving for New Delhi Wednesday evening.
Immediately after arriving Kathmandu, the visiting India Minister Khattar along with Minister Khadka jointly inspected the Arun III Hydropower Project in Sankhuwasabha also.
The visiting Minister Khattar said that Nepal is a country with immense hydropower potential and that prosperity can be achieved through the energy sector. Stressing that the Arun III Hydropower Project should be completed on time as it would benefit both the countries, he said Indian government is ready to invest more in Nepal’s hydropower sector.
Earlier, the Governments of India and Nepal signed a long-term Power Trade Agreement on January 4, 2024. The 25-year long deal aims to export 10,000 megawatts (MW) of electricity to India in the next ten years.
NICCI has been facilitating trade and economic ties between Nepal and India. “NICCI will be happy to welcome more private sector power players in Nepal,” KC added. On the occasion, KC presented visiting Minister Khattar the token of love on behalf of NIICI and the ‘Business Climate Survey for Indian Companies in Nepal’ done by NICCI to promote Indian investment in Nepal.
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