Nepal and India have signed a crucial memorandum of understanding (MoU) on cross border transmission line development on Tuesday in the presence of Minister for Energy, Water Resource and Irrigation Deepak Khadka and Indian Minister for Power, Housing and Urban Affairs Manohar Lal Khattar.
The Indian Minister arrived here on Tuesday at the invitation of Minister for Energy, Water Resources and Irrigation, Khadka.
The MoU was signed as per the agreement made by the 12th meeting of the Nepal-India Secretary Level Joint Directive Committee held in New Delhi, India two months ago. The meeting had forged a consensus to establish a joint company for the construction of 400 KV Inaruwa-New Poorniya and Dodhara-Bareli Transmission Line.
Director of Nepal Electricity Authority Kamal Acharya and Power Grid Limited India's Director Dr Yatindra Dwabedi signed the MoU.
Nepal will have 51 percent in share in the joint company established to develop power grid towards the Nepali side and India's 51 percent share in the company established to develop grid in the Indian side. Remaining 49 percent shares will be of the second party.
On the occasion, Energy Minister Khadka said that the MoU was a crucial agreement for the energy development in the two countries and thanked the Indian side for supporting Nepal's energy sector.
.
