Nepal Inks USD 1.3 billion mega-deal with India to develop 679 MW Lower Arun Hydropower project

Current GK ( Master) International Affairs

Nepal has signed a USD 1.3 billion deal with India, to develop a 679-megawatt Lower Arun Hydropower project, located between Sankhuwasabha and Bhojpur districts in eastern Nepal.
As per the deal, India’s state-owned Satluj Jal Vidyut Nigam (SJVN), will develop the 679-megawatt hydropower project in the neighbouring Himalayan nation.
This will be the second mega project undertaken by India in Nepal, after the USD 1.04 billion 900-MW Arun-3 hydroelectric project.
The project will be developed under the build, own, operate and transfer (BOOT) model.
This 679 MW Hydropower project is the single largest foreign investment project in the country, based on the 2017 cost estimates.