Nepal signs mega $1.3 billion deal with India's SJVN to develop 679 MW Hydropower project

Nepal has signed a USD 1.3 billion deal with India's hydro power major Satluj Jal Vidyut Nigam (SJVN) to develop a 679-megawatt hydropower project in eastern Nepal, the second mega venture undertaken by India in the neighbouring Himalayan nation.

The single largest foreign investment project, based on the 2017 cost estimates, is located between Sankhuwasabha and Bhojpur districts in eastern Nepal, according to a press release issued by the Investment Board Nepal.

The 679-megawatt Lower Arun Hydropower project is the second mega project undertaken by India after the USD 1.04 billion 900-MW Arun-3 hydroelectric project.