A
Cabinet meeting on Thursday endorsed the power trade agreement (PTA) that Nepal
and India recently initialed, and the amended project development agreement for
the 900 megawatt Upper Karnali Hydropower Project.
The
Cabinet also directed the Investment Board Nepal to sign the PDA deal with
India’s GMR-ITD Consortium. An IBN board meeting chaired by Prime Minister
Sushil Koirala had endorsed the PDA on Wednesday.
With
IBN Board asking the IBN to make some amendments, the Board forwarded the
revised PDA to the Cabinet for final endorsement on Thursday afternoon.
The
PTA was signed by the secretaries of the two countries in New Delhi on
September 5. Titled ‘Electric Power Trade, Cross-Border Transmission
Interconnection and Grid Connectivity’, the document will open new avenues to
the country’s energy sector with the neighbouring nations enabled to trade
energy. As per the Cabinet decision, Energy Secretary Rajendra Kishore Kshatri
and IBN Chief Executive Officer Radhesh Pant have been authorised to sign the
PTA and PDA documents, respectively, on behalf of the government.
Source
: eKantipur
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