China Agrees To Invest In West Seti

<br>

Sept. 8, 2011, 5:45 p.m. Published in Magazine Issue: Vol. : 05 No.-06 Sept. 09-2011 (Bhadra 23,2068)<br>

China has agreed to invest in the 750 MW West-Seti Hydropower Project. China has agreed to provide a loan of US $1.6 billion through Export-Import Bank of China (EXIM Bank).


China has informed Nepal government that half of US $1.6 billion will be soft loan and half will be commercial loan.


Nepal government has requested to provide the entire amount as soft loan. The payback period for the loan will be around 28 years.


Energy Minister Gokarna Bista said he has already asked to start the project stating the agreement was made with China for the investment on the project. “On various meetings held with the Chinese officials, they have agreed for the investment,” he said, “We have requested to provide the entire amount as soft loan, after detailed discussion on this topic a memorandum of understanding (MoU) will be signed soon.”
(Naya Patrika)

More on Economy

The Latest

Latest Magazine

VOL 13 NO 01 ,July 19 –01 Aug., 2019 (Sharwan 03, 2076) Online Register Number: DOI 584/074-75

VOL 12 No.21, June 28 –18 July, 2019 (Ashad 13, 2076) Online Register Number: DOI 584/074-75

VOL 12 No.20, Jun 07 –27 June, 2019 (Jestha 24, 2076/074-75) Online Register Number: DOI 584

VOL 12 No.19, May 17 –06 June, 2019 (Jestha 03, 2076) Online Register Number: DOI 584/074-75