Groundbreaking of 216 megawatt Upper Trishuli-1 hydropower project « Khabarhub
Friday, July 19th, 2024

Groundbreaking of 216 megawatt Upper Trishuli-1 hydropower project


12 September 2023  

Time taken to read : 2 Minute


  • A
  • A
  • A

KATHMANDU: A groundbreaking ceremony was held for the development of the country’s largest hydropower project to be built with foreign direct investment (FDI) on Tuesday.

Energy Minister Shakti Bahadur Basnet laid the foundation stone of the project with a capacity of 216 megawatts which is being developed for domestic consumption with FDI from a Korean company.

The dam and physical structures of the project are located at Haku village of Amachhodingmo Rural Municipality-1 while the underground powerhouse lies at Uttargaya Rural Municipality in Rasuwa district.

During the groundbreaking ceremony, Minister Basnet said the government is creating an investment-friendly environment to lure international and domestic investors and to achieve economic prosperity in the country through hydropower projects.

The main investor of the project is South-East Power of Korea.

President and Chief Executive Officer of South-East Power Hau Chun Kim said the development of the project would be instrumental in achieving economic prosperity by exporting surplus power to the neighboring countries and minimizing climate change impacts.

Development of the project started in 2020 and the overall physical progress of the project is 22 percent so far.
The dam construction of the project shall start after the monsoon is over.

The total cost of the project is estimated to be 647.3 million US Dollars and nine international financial institutions have agreed to invest 453.2 million US Dollars. The remaining amount will be managed through equity.

RSS

Publish Date : 12 September 2023 20:59 PM

Today’s national news in a nutshell

Khabarhub brings you a glimpse of major developments of the

Five new ministers sworn in Madhesh Province

KATHMANDU: Madhesh Province welcomed five new ministers on Thursday during

8th South Asian Karate Championship: Nepal clinches 8 gold medals

KATHMANDU: Nepal has emerged victorious in the 8th South Asian

Deputy Speaker Rana faces criticism over controversial letter to US Embassy

KATHMANDU: Seventeen months ago, a letter penned by Deputy Speaker

125 people killed in disaster-related incidents since June 10

KATHMANDU: A total of 125 lives have been lost in