Nepal has permitted two Indian companies—GMR Group and Satluj Jal Vidyut Nigam Ltd—to build one hydropower plant each, both capable of generating 900MW of power each, mainly to be exported to India. Kathmandu: Nepal has scrapped a $2.5 billion deal with China’s Gezhouba Group Corp. to build the country’s biggest hydropower plant, citing lapses in the award process, the energy minister said. Critics say the $2.5 billion project was handed to the Chinese company without any competitive bidding, which is required by law, and a parliamentary panel asked the government that succeeded the Maoist-led coalition to scrap the deal. China and India jostle for influence with aid and investment in infrastructure projects in Nepal. It has also permitted two Indian companies—GMR Group and Satluj Jal Vidyut Nigam Ltd—to build one hydropower plant each, both capable of generating 900MW of power each, mainly to be exported to India.

Source: Mint November 13, 2017 19:18 UTC