Kathmandu, Jan 31 (PTI) The Nepal government has decided to award India's state-owned Satluj Jal Vidyut Nigam (SJVN) Ltd the contract to construct the 679 MW Lower Arun Hydropower Project. The 46th meeting of the Investment Board of Nepal (IBN), of which Prime Minister K P Sharma Oli is the chairperson, on Friday decided to select SJVN of India to award the project under a public-private partnership, according to a press release issued by the board on Sunday.
The project will be constructed under Build, Own, Operate and Transfer (BOOT) model, according to the IBN.
The project, located in Sankhuwasabha and Bhojpur districts of eastern Nepal, is estimated to cost around USD 860 million (Nepali Rs 100 billion).
On completion, the project will generate 3,561 million units of electricity per annum. PTI NSA