Government Extends Term of Upper Karnali Hydropower Project by 2 Years

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Government Extends Term of Upper Karnali Hydropower Project by 2 Years

July 18: The government has decided to extend the term of the Upper Karnali Hydropower Project by two years under certain conditions.

A meeting of the Council of Ministers on July 15 decided to extend the term of the Indian company GMR for financial management of the 900 MW Upper Karnali Hydropower Project, informed Minister for Communication and Information Technology Gyanendra Bahadur Karki.

A meeting of the Investment Board on June 6 had recommended the government to extend the term of the project. The Indian company had written a letter to the Investment Board seeking two years’ time for financial management. The government has selected GMR for the project in 2008.

 

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