This year marks a very important gain in Nepal-Korea business relations as Korean government supported 30 MW Chameliya Hydropower Project, which is in the final stage of completion after facing several hurdles in the past.
After the completion of this project, far-western Nepal will see many transformations. The completion of 132 KV transmission lines has already encouraged private hydropower developers to invest in the region.
Following years of delay, Trishuli 1 project, a Korean-Nepalese joint venture, has been finally sent to the technical committee of the cabinet to look at its proposal and for clearance. At a cost of 600 million dollars, the project will produce 200 MW of power. Korean Company alone will invest over 200 million rupees.
At a time when the new opportunities for Nepalese and Korean investors are opening, the fifth Business Night assumed a greater significance than in the past. As usual, a large number of Korean and Nepalese business people attended the program. With various businessmen from both the countries, deputy prime minister and Home affairs minister Bimalendra Nidhi took part in the event as its chief guest.
The presence of minister Nidhi was significant for he oversees the law and order situation in the country.
A large number of Nepalese and Korean business people, including president of FNCCI Pashupati Murarka, other senior officials, CNI President Hari Bhakta Sharma and Chamber president Rajesh Kaji Shrestha attended the event.
Organized by Korean Embassy to Nepal in collaboration with Nepal Korea Economic Chamber of Commerce and Industry, Korea Business Nights helps to boost the relations between the two countries.