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Adani Group in Nepal, to invest in 3 projects in collaboration with Chinese company

Deepak Bhatta

Deepak Bhatta

 |  Kathmandu

Adani Group led by Indian entrepreneur Gautam Adani and Sinoma Company held discussions at Hotel Royal Singi on May 19.

Gautam Adani Group, one of the richest conglomerates in the world, has started discussions about investing in Nepal. The group has initiated discussions with Nepali companies to invest in various projects.

The Adani Group has no investment in Nepal yet. The representatives of the Adani Group are staying in a hotel on Durbar Marg and discussing investing in projects in Nepal. They are evaluating the projects of Nepal and talking with the representatives of the companies involved in them.

However, the group has not yet floated any proposal to the Nepali government agencies as to which project to invest in.

It has not submitted the proposal to the Nepal Investment Board and the Department of Industry, where the investment proposal has to be submitted. However, it is mainly holding talks on investing in three projects in Nepal.

Gautam Adani, who is considered close to Narendra Modi, the Prime Minister of India, is one of the richest businessmen in the world. According to a focal person of the Adani Group, the group is interested in investing in three projects in Nepal.

He said, "We have been trying to invest in solar energy, hydropower, and transmission lines in Nepal."

The Adani Group had previously announced that it would invest in Nepal for solar energy.

Similarly, the group has also started discussions on investing in transmission lines in collaboration with Nepal Infrastructure Development Bank.

It is particularly interested in East-West transmission lines and mega hydropower projects. This group is interested in the Mugu-Karnali hydroelectric project and the Chisapani Multi-Purpose project in Karnali.

Besides, this group also discussed establishing a cement industry in Nepal.

Mugu-Karnali is a 1,900-megawatt hydropower project. It is one of the largest projects to generate electricity in Nepal.

The Adani Group is also interested in the Chisapani Multi-Purpose project in Karnali. It is estimated that irrigation projects can be run in both Nepal and India from this project and electricity generation can be more than 10,000 megawatts. The group wants to carry out a preliminary study of this project.

What is important is that the Adani Group has also discussed with Chinese companies for investment and technical cooperation in Nepal. It has discussed investment cooperation with Sinoma International Company, which invests and studies in China's construction sector. According to highly-placed sources, discussions between these two business groups of India and China are currently taking place in Nepal.

Chinese company Sinoma is China's high-tech engineering platform. It is also the world's leading service provider for cement technology and equipment.

In 2001, this company, which was labeled as the most efficient company in China's cement technology, equipment, and engineering business, is a public company. It is listed on the Shanghai Stock Exchange.

This company has made a great contribution to China's infrastructure construction and economic development. The company is currently producing cement in more than 80 countries.

The Adani Group together with such a high-profile company has discussed investing in Nepal. However, Sushil Bhatta, CEO of the Investment Board Nepal, says that there is no official proposal yet.

"There have been rumors that the Adani Group wants to invest in Nepal," Bhatta, the CEO of Investment Board Nepal, told Nepalkhabar, "but we have not received any official proposal yet."

However, the spokesperson of the Adani Group has denied that the meeting was held in Kathmandu over the phone from New Delhi and the possibility of investment in Nepal was discussed.

"It is not true that a meeting was held in Kathmandu and the possibility of investment by Adani Group in Nepal was discussed," the spokesperson of the Adani Group told Nepalkhabar over the phone from New Delhi, "This rumor is baseless. There is no truth in such rumors and media reports."



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