Hydro development is govt’s priority: President Bhandari

Kathmandu, Jan. 27:

President Bidya Devi Bhandari said that the government has given top priority to infrastructure investment specially the hydropower development. 

“After the conclusion of peace process and implementation of federal constitution, the country’s major agenda is rapid economic progress for which it needs robust infrastructure development. Therefore, the government has been putting its efforts to attract domestic as well as Foreign Direct Investment (FDI),” the President said at the Nepal Power Investment Summit 2018. 

Saying the country has been gradually improving its investment and business climate, she urged the investors to come to Nepal to make most of the hydropower potential which is yet to be exploited.

“Developing hydropower projects in Nepal will prove beneficial for the whole South Asian region in the long run,” said Bhandari. 

She also launched a hydropower buide-book, ‘How to Develop a Hydropower Projects in Nepal’, which was published by the event organiser. 

Chairman of Electricity Development Council, organiser of the summit, Sujit Acharya said that it was possible to develop 40,000 mw in a decade. 

“Large power merkets, India, Bangladesh and China, are just 1 km to 150 km away from Nepal. The potential in electricity has also created a large possibility in establishing electric vehicle and other equipment assembling plants in Nepal,” he said. 

More than 350 hydro experts, private sector representatives, government officials, developers and financers from 24 countries around the globe are attending the summit.

The organiser said that the conference was organised with an objective of showcasing Nepal as an ideal investment destination in the area of energy development.

The 3-day summit will run till Monday.

Published in The Rising Nepal on Jan. 28, 2018.