Australian company Fortescue proposes to invest in Nepal’s hydro sector
Kathmandu, Oct 2. Fortescue Metals Group Limited of Australia has expressed its willingness to invest in Nepal’s hydropower sector. The company submitted its proposal at the Ministry of Energy, Water Resources and Irrigation, seeking approval for production and consumption of at least 500 MW power.
Officials at the Ministry and the company’s representatives also held video talks over the matter.
Likewise, Energy Minister Barsha Man Pun told the Australian Ambassador to Nepal Peter Budd that Nepal had taken the proposal seriously. Minister Pun shared the government’s perspective over the issue in a farewell call made by Australian Ambassador Budd.
He also welcomed the Australian investment in Nepal and assured proper facilitation from the government side.
Company’s Chairman Dr Andrew Forrest AO-led 23-member team is arriving Nepal on 12 October for further talks with the officials.
Minister Pun said, “We feel good for the company’s proposal to invest such a huge amount in Nepal’s hydropower sector and consume the power itself.”
On the occasion, Minister Pun congratulated Australian Ambassador Budd for successful completion of his tenure in Nepal. (RSS)
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