KATHMANDU: The Investment Board Nepal (IBN) and the Chinese company Power China signed a memorandum of understanding in regard to the implementation of the Tamor Hydroelectric Project known as the ‘gem’ of the east.

Board Chief Executive Officer Maha Prasad Adhikari, Hydro Electricity Investment and Development Company Limited’s Chief Executive Officer Chhabi Raj Pokhrel and Power China’s Vice-Chair Pan signed the MoU concerning the 756-megawatt reservoir-based project.

According to the understanding, the detailed project report (DPR) shall be prepared within the two years of acquiring a survey license which will take at least six months.