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Chinese Company to Invest Rs 15 Billion in Hydropower Project
1 min 11 sec to read
August 20: China Harbour Engineering Company (CHEC), a big investment company of China, has decided to invest Rs 15 billion in Nepal. CHEC, a subsidiary of China Communications Construction Company Limited (CCCC), will invest one of the largest amounts in Sanjelkhola Hydropower Project.
An agreement in this regard was signed between the concerned parties on Saturday, August 19. Energy Minister Mahendra Bahadur Shahi and Chinese Ambassador to Nepal Yu Hong were also present during the signing ceremony.
The project’s chief Bishnu Raj Adhikari and CHEC President Tang Qiaoling signed the agreement onbehalf of their respective organizations.
The government of Nepal had requested the Chinese government to invest in the 78-megawatt capacity project. As per the request, China decided to invest in Nepal through one of its biggest investors, CHEC.
After signing the agreement, both sides reiterated that the Rasuwa-based project would help in strengthening the bilateral relation between the two countries.
During the occasion, secretary at the Ministry of Energy Anup Upadhyay expressed his belief that the country’s energy crisis would ease in the future due to such a huge foreign direct investment in a single project.
Experts have said the decision of the company, which invests Rs 1,100 billion worldwide every year, to invest in Nepal as a positive outcome in the efforts taken by the government to attract foreign investors.
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'summary' => 'China Harbour Engineering Company (CHEC), a big investment company of China, has decided to invest Rs 15 billion in Nepal. ',
'content' => '<p>August 20: China Harbour Engineering Company (CHEC), a big investment company of China, has decided to invest Rs 15 billion in Nepal. CHEC, a subsidiary of China Communications Construction Company Limited (CCCC), will invest one of the largest amounts in Sanjelkhola Hydropower Project.</p>
<p>An agreement in this regard was signed between the concerned parties on Saturday, August 19. Energy Minister Mahendra Bahadur Shahi and Chinese Ambassador to Nepal Yu Hong were also present during the signing ceremony.</p>
<p>The project’s chief Bishnu Raj Adhikari and CHEC President Tang Qiaoling signed the agreement onbehalf of their respective organizations.</p>
<p>The government of Nepal had requested the Chinese government to invest in the 78-megawatt capacity project. As per the request, China decided to invest in Nepal through one of its biggest investors, CHEC.</p>
<p>After signing the agreement, both sides reiterated that the Rasuwa-based project would help in strengthening the bilateral relation between the two countries. </p>
<p>During the occasion, secretary at the Ministry of Energy Anup Upadhyay expressed his belief that the country’s energy crisis would ease in the future due to such a huge foreign direct investment in a single project.</p>
<p>Experts have said the decision of the company, which invests Rs 1,100 billion worldwide every year, to invest in Nepal as a positive outcome in the efforts taken by the government to attract foreign investors.</p>
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