Nepal,China ink pacts for projects worth $ 2.24 bn
Nepal and China on Wednesday signed eight agreements for projects worth $2.24 billion even as Prime Minister KP Sharma Oli held wide-ranging talks with President Xi Jinping on the second day of his visit to China.
The two sides also signed an agreement for cooperation between the Nepal Electricity Authority and State Grid Corporation of China to conduct a feasibility study for a cross-border power grid interconnection project. Oli, on a six-day official visit, paid a courtesy call on Xi at the Great Hall of the People in Beijing and discussed a wide range of bilateral issues. They held a one-one-one meeting that was followed by delegation-level talks. Xi was quoted by the local media as saying that China is committed to the national sovereignty and territorial integrity of Nepal. He expressed gratitude to Oli for Nepal maintaining the “One China” policy and not allowing any “anti-China activities” on Nepalese soil.
Oli handed over an invitation
KATHMANDU:
on behalf of President Bidhya Devi Bhandari to Xi, who said he is keen to visit Nepal soon. NepalChina ties will move ahead with a new course following the installation of a new government in Kathmandu after the recent elections, Xi said. Xi, according to the media reports, told Oli that the Chinese rail network will soon reach Kathmandu. The two sides are expected to sign a memorandum of understanding (MoU) to expand the Chinese railway to the Nepalese capital on Thursday. Nepal is also keen for the Chinese rail network to be expanded to Lumbini, the birthplace of Lord Buddha.
Nepal’s foreign minister Pradeep Gyawali said China will extend a grant and Nepal will make some investment in the railway project. Oli told Xi that Nepal is keen to open up its northern border with China.
India and China are competing to expand their railway networks to Kathmandu. India and Nepal have already agreed to expand an Indian railway link from Raxual to Kathmandu.