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America, Austria Willing to Invest in Hydropower Sector of Nepal: Minister Pun

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America, Austria Willing to Invest in Hydropower Sector of Nepal: Minister Pun
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May 29: American investors have shown interest in developing high-dam hydropower plants in Nepal.

Representatives of the American Hydropower Association expressed their willingness in investing in such projects in Nepal provided that there is favourable environment for investment.

They made such remarks during the International Hydropower Congress held in Paris from May 14 to 16 recently.

Minister for Energy, Water Resources and Irrigation, Barsaman Pun, had led the Nepali delegation in the International Hydropower Congress.

The Americans expressed their desire with Minister Pun to work with Nepal in establishing hydropower projects.

The hydropower sector of the USA has a long experience of developing similar hydropower projects both inside and outside of America.

During the Congress attended by 750 representatives of 70 different countries, Minister Pun shed light on Nepal's efforts in expanding electricity and its access as well as the country’s achievements in this sector and future strategy.

Austria willing to invest in state-owned hydro projects

Minister Pun during a press meet organised on Tuesday, May 28, informed reporters that Austria has also expressed its desire to invest in the state-funded hydropower projects in Nepal. 

Pun added that Vice Minister for Transportation, Innovation and Technology of Austria, Andreays Raikard, during his visit to Vienna, Austria mentioned that his country is interested to invest in the state-owned hydropower projects in Nepal.      

Nepal has signed a MoU with Austria for Hydropower Infrastructure Technology Partnership.

According to the MoU, the two countries have agreed to promote investment in development of energy sector, technology transfer, joint project study and identification of joint venture projects.

 

 

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