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Nepal gives Indian firm green light for $1 billion hydroelectric plant

Reuters  |  KATHMANDU 

By Gopal SharmaKATHMANDU (Reuters) - Nepal has given an Indian company permission to build a 900 megawatt hydropower plant, government officials said on Monday, as the Himalayan state looks to ease chronic energy shortages by opening up its rivers to its larger neighbour.The two countries will sign an agreement for the $1.04 billion project, which provides Nepal with free electricity and India energy for its power-hungry economy, later this week when South Asian heads of state meet for a regional summit in Kathmandu, Nepal's Law Minister Narahari Acharya told Reuters."We have passed the Arun ...

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First Published: Tue, November 25 2014. 08:58 IST