Connect with us

Economy

MoU signed to construct Muktinath cable car

Gorkha Post

Published

on

KATHMANDU — Muktinath Cable Car Pvt Ltd (MCCPL) and Investment Board Nepal (IBN) have signed a memorandum of understanding (MoU) for preparing detailed project report of Muktinath Cable Car project on Wednesday.

Chief Executive Officer at the Board, Maha Prasad Adhikari, and Company Chairman Arun Kumar Subedi singed the MoU.

The deadline set to submit the DPR of the 83.65-kilometre-long cable car system has been set at February 2020, 18 months from now.

A cable car way would be constructed linking Birethanti of Kaski to Mustang. The cable car to be constructed with a length of 83.65 km will have six stations. The first station is Birethanti then Ghorepani, Tatopani, Lete, Marpha, Kagbeni and finally Muktinath.

ALSO READ :  NRB to unveil monetary policy today

Investment Board’s Spokesperson Uttambhakta Wagle informed that the project is estimated to cost around Rs. 35 billion.

The construction of the cable car, first public-private partnership project, will be the longest cable car in Nepal.

In the recent time, initiatives are underway to construct two dozens of cable cars across the country, while the one in Kalinchowk of Dolakha is going to complete.

Continue Reading

Economy

Govt decides to award Budhi Gandaki Hydel project to Chinese firm again

Gorkha Post

Published

on

KATHMANDU — The government has decided to award contract for the construction of the 1,200-megawatt Budhigandaki hydropower project, a national pride project, to China Gezhouba Group Corporation (CGGC) once again.

A Cabinet meeting on Friday has decided to award the contract for the project to CGGCL reverting the erstwhile Sher Bahadur Deuba government’s decision to develop the 1200MW project with internal resources.

The Cabinet meeting has directed the Energy Ministry to initiate the process to award the project to the Chinese company.

Following the government decision, the Energy Ministry will now invite the Chinese company for talks and prepare a draft of the memorandum of understanding (MoU) before signing it, according to multiple sources at the ministry.

ALSO READ :  FinMin presents principles and priorities of upcoming budget

As per the Cabinet decision, the ministry has been asked to hold talks with the Gezhouba, prepare a proposal, and strike a deal to execute the $2.5 billion reservoir project.

Earlier on May 15, 2017, the Pushpa Kamal Dahal-led government had awarded the contract to construct the Budhigandaki project to CGGCL, juat nine days before he was to resign from the PM’s post.

The Dahal-led government had awarded the contract to CGGCL at a cost of Rs 260 billion as per a study carried out by a French company, Tractebel Engineering.

The agreement, however, invited controversy as the project was handed to the Chinese company without initiating a competitive bidding process.

The Budhi Gandaki hydel project has been touted as a key project to resolve the perennial power crisis in the country. The government has allocated Rs18 billion for compensation payments and operational expenses for this fiscal year.

The Gorkha and Dhading district administration offices are currently distributing compensation to owners of the land taken over by the project.

More than 8,000 households will be affected by the project, according to the latest report.

Continue Reading

TOP PICKS