Nepal
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Now Indian states can do direct power trade with Nepal
This agreement was reached during the 14th meeting of the Joint Technical Team ( JTT) on Wednesday in New Delhi, according to the Nepali side.
India’s Line of Credit to Nepal crosses $ 1.65 bn mark
The government of India’s LOC portfolio is more than $30 billion and is spread across more than 60 partner countries, said a statement issued by the Embassy of India in Kathmandu.
India's NHPC to sell energy to PTC produced in Nepal
According to a statement, the MoU was signed by A.K. Singh, CMD, NHPC, and Rajib K. Mishra, CMD, PTC India Limited. The estimated cost of the two projects, according to the Investment Board, is $2.4 billion. Nepal has awarded the much-talked West Seti and Seti River projects to India through a negotiation window, nearly four years after China pulled out.
Nepal exports cement to India for 1st time
The official process began on Friday with Palpa Cement Industries Limited exporting its Tansen brand to India. The company located at Sunwal Municipality-7 in West Nawalparasi district hosted a special function to mark the launch. The government in its annual budget had introduced a subsidy of 8 per cent in cash to companies exporting cement using Nepali raw materials.
Nepal traders dealing with China incur huge losses
Tatopani-Zhangmu and Rasuwagadhi-Kerung are the two main trading points between Nepal and China that share a 1,415 km border. The Tatopani trade point, though officially reopened in 2020, often remains closed, halting the movement of goods into Nepal. Most trucks and containers are now being rerouted through Kolkata which is substantially adding to the cost for the traders.
Nepal begins selling 177 mw energy to India via power exchange market
"Earlier Nepal had already sold out 37.7 megawatts power to India. After starting selling 140 megawatts on Saturday night, we are now selling a total 177.7 megawatts of energy through India Energy Exchange Limited," said Suresh Bhattarai, spokesperson of the state-owned Nepal Electricity Authority (NEA). It is the first time that the country is exporting such a large quantity of energy through the power exchange market.
Nepal-India agrees to inject more investment in energy sector
In the meeting that started in Kathmandu on Wednesday and ended on Thursday, the two countries agreed to build more transmission lines, complete the transmission lines that are under construction and proposed new cross -country transmission lines, completion of Arun 3 hydropower project and energy export and import. As per the agreement reached at Nepal-India Energy Joint Meeting, a joint technical team will be formed to carry out the study as per the proposal made by India.
US, China face-off in Nepal over $500 mn US grant
Earlier this week, after Nepal delayed in ratifying the US aid in the Parliament, a senior US State Department official had warned that the US will force a review of its ties with Nepal if Kathmandu fails to ratify the grant under the Millenium Challenge Corporation. And now Kathmandu is witnessing violent protests everyday, particularly by Communist parties, against the American aid.
With India's soft loan, Nepal gets new strategic transmission line
The strategic power corridor was built with the soft loan of India's Exim Bank. The 106-km Koshi Corridor transmission line, costing a total of NRs 10.40 billion (USD 86.8 million) is being built under government of India's Line of Credit of USD 550 million, extended by the EXIM Bank of India, Indian Embassy in Kathmandu said in a statement on Wednesday.
FDI into Nepal thins as India pulls back investments
Though China topped the list of countries which invested the most in Nepal, overall FDI kitty has thinned. That apart, now with apprehensions that China could lower its investments in the coming months as Beijing tightened the norms of lending for its banks and local governments, Nepal's dependence on India is set to rise.
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