Kathmandu, Nov 20 (IANS): Nepal’s Investment Board has agreed to support Indian companies in developing hydropower projects.

A meeting chaired by Prime Minister Sushila Karki granted SJVN Limited a generation license for the 669MW Lower Arun Hydropower Project.

SJVN had previously obtained a survey license in 2021 and is also working on the 900 MW Arun-3 project. Additionally, a draft Direct Agreement will be submitted to protect foreign investments in the Arun-3 project, involving the host government, developers, and lenders.

The survey license period for the 750 MW West Seti project, previously awarded to China Three Gorges Corporation but declined, has also been extended to NHPC Limited, which is now advancing its development plans.

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