Nepal-China sign deal to build 762MW hydro project

The Investment Board Nepal (IBN) and Power Construction Corporation of China (Power China) have signed an agreement to construct the 762MW Tamor Storage Hydroelectricity Project. 

A joint-venture between Hydroelectricity Investment and Development Company of Nepal and state-owned Power China Corporation will construct the project under public-private-partnership. The Nepali firm is investing 46%, and Power China 54% of the project cost. 

The developer will plan, design, build, finance and operate the facilities during the concession period of 30 years. Similarly, the project developer will also be responsible for collecting revenue from the project during the concession period. After the concession period is over, the developer will have to hand over the project to the government.