Business Standard

Nepal state firm to build $2.5-bn power project


A state-owned Nepali power firm will develop the Himalayan country’s biggest hydroelect­ric plant after the government scrapped a deal with a Chinese firm, an official said on Sunday. Nepal’s cabinet scrapped a $2.5 billion deal with China Gezhouba Group to build the Budhi Gangaki hydroelect­ric plant this month citing lapses in the award process. “The cabinet has decided to entrust the Nepal Electricit­y Authority to develop the plant,” Pushkar Dhungel, an aide to Deputy Prime Minister Kamal Thapa said. REUTERS

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