Kathmandu: Nepal and India have signed a memorandum of understanding (MoU) focused on cross-border transmission line development. The signing took place on Tuesday in the presence of Nepal’s Minister for Energy, Water Resource and Irrigation, Deepak Khadka, and Indian Minister for Power, Housing and Urban Affairs, Manohar Lal Khattar.
According to National News Agency Nepal, the Indian Minister visited Nepal following an invitation from Minister Khadka. The MoU is a result of the agreement reached during the 12th meeting of the Nepal-India Secretary Level Joint Directive Committee, which was held in New Delhi, India, two months ago. The committee had agreed to form a joint company for the construction of the 400 KV Inaruwa-New Poorniya and Dodhara-Bareli Transmission Line.
The memorandum was signed by Director of Nepal Electricity Authority, Kamal Acharya, and Power Grid Limited India’s Director, Dr. Yatindra Dwabedi. The joint company will see Nepal holding 51 percent of the shares for the power grid development on its side, while India will hold 51 percent for the grid development on its side. The remaining 49 percent shares will belong to the second party.
During the event, Energy Minister Khadka emphasized the importance of the MoU for energy development in both countries and expressed gratitude to the Indian side for its support of Nepal’s energy sector.