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Nepal scraps $2.5 billion hydropower plant deal with Chinese company

Reuters  |  KATHMANDU 

By Gopal SharmaKATHMANDU (Reuters) - Nepal has scrapped a $2.5 billion deal with China Gezhouba Group Corporation to build the country's biggest hydropower plant, citing lapses in the award process, the energy minister said."The cabinet has cancelled the irregular ... agreement with Gezhouba Group to build the Budhi Gandaki hydroelectric project," Energy Minister Kamal Thapa, who is also the country's deputy prime minister, said on Monday in a twitter post in Nepali after a cabinet meeting. He did not give further details.Nepal's rivers, cascading from the snow-capped Himalayas, have vast, ...

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First Published: Tue, November 14 2017. 13:38 IST
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