On Monday, Nepal’s government announced that China Three Gorges Corporation will build a US$1.6bn hydropower plant in what will be the country’s largest single foreign investment.
The power plant, to be built on the West Seti River, is expected to become operational sometime between 2021 and 2022, with an expected capacity of 750MW.
The project was first approved by a parliamentary panel in 2012, and has taken an additional two years to get through Nepal’s investment board amid political upheaval.
A civil war-torn Nepal is affected by severe power shortages, but its vast water resources may help ease the situation.
Analysts predict that the advent of China Three Gorges will break up India’s monopoly in Nepal’s hydropower sector.
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