India, Nepal sign MoU to develop Phukot Karnali Hydro-Electric Project

India and Nepal have signed a Memorandum of Understanding (MoU) to develop the Phukot Karnali Hydro-Electric Project (480MW) in Nepal. Both countries inked the deal in the presence of Prime Minister Narendra Modi and his counterpart Pushpa Kamal Dahal at the Hyderabad House in New Delhi. “NHPC Limited (A Govt. of India Enterprise) and Vidhyut Utpadan Company Limited (VUCL), Nepal signed an MoU (Memorandum of Understanding) in New Delhi today for the development of Phukot Karnali Hydro Electric Project (480MW) in Nepal,” the Ministry of Power said in an official statement. It added, “NHPC Limited (A Govt. of India Enterprise) and Vidhyut Utpadan Company Limited (VUCL), Nepal signed an MoU (Memorandum of Understanding) in New Delhi today for the development of Phukot Karnali Hydro Electric Project (480MW) in Nepal,” the Ministry of Power said in an official statement." The project will be capable to carry 480 MW of electricity and generate over 2448 GWh of power. Among the key features of the project, a 109-meter-high RCC dam and an underground powerhouse have been highlighted. Additionally, to utilize minimum environmental release one Surface Power House of 6 MW capacity i.e. two machines of 3 MW each is also planned, the press release added. About the project, Foreign Secretary Vinay Mohan Kwatra said, “As regards our generation, an MoU was signed for the development of 480 MW Phukot Karnali hydropower project in Western Nepal by NHPC India. Further, the signing of the project development agreement for the 679 megawatt Lower Arun Project by India’s Satluj Jal Vidyut Nigam (SJVN) was welcomed by the two Prime Ministers.” The investment proposal from SJVN worth 92.68 billion Nepali Rupees was given approval in the 53rd meeting of the Investment Board chaired by Nepal’s Prime Minister Pushpa Kamal Dahal in April this year. During the meeting, both Prime Ministers also expressed their commitment to achieving tangible and time-bound progress on Pancheshwar Multipurpose Project, the Foreign Secretary added. With inputs from ANI Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook_,_  Twitter and  Instagram_._