Chinese companies in joint venture to build Nepal hydropower project
Companies will partner with local firm to build US$500 million Tamakoshi III hydropower project whose construction will being in 2020
Two Chinese companies have signed up with a local partner to develop the US$500 million Tamakoshi III hydropower project in Nepal.
A joint venture development framework agreement was signed on July 25 between China's YEIG International, Shanghai Investigation, Design and Research Institute Co. Ltd. and Nepal's TBI Holdings Pvt. Ltd.
Kunming-based YEIG is a state-owned energy company.
The signing ceremony in Kathmandu was attended by Nepali Minister of Energy, Water Resources and Irrigation Barsha Man Pun, and Zhang Guohua, vice governor of southwest China's Yunnan Province.
The Nepali energy minister said that YEIG will bring considerable experience in the field of hydropower to Nepal. Yunnan Province is an important green energy hub.
Zhang said that Yunnan is a key hub in the Belt and Road Initiative, and that the signing of the cooperation agreement will encourage more cooperation and exchanges in hydropower.
TBI Group Chairman Bhaban Bhatta said that construction work on the 200MW project will begin in early 2020, and will be completed in three and half years.
The hydropower project will be a run-of-river facility in Tamakoshi River, which forms part of the Koshi River system, flowing through the Dolakha and Ramechhap districts.
31 Jul 2019