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China ready to invest in hydropower development: Envoy Yang.

Kathmandu, July 13 -- The newly-appointed Chinese ambassador to Nepal Yang Houlan has said that China is interested to make investment in Nepal's hydropower sector.

The envoy Yang said China is currently making feasibility study to put investment in Nepal's hydro sector since the Himalayan nation has a huge potentiality to generate hydropower.

Despite abundant availability of water resources, Nepal faces up to 16 hours a day load shedding during the peak of dry season. The lack of adequate power supply has also impeded industrial development in the country.

Talking to media persons before wrapping his three-day visit to Lumbini, the birthplace of Lord Buddha, the envoy said China is also interested to put investment in other areas such as infrastructure development, health, education and agriculture.

He said that Chinese government and private sector in China are also willing help develop Lumbini since it is the holy place of all Buddhists living across the world. The envoy had a meeting with the office bearers of Lumbini Trust and the representatives of Buddhist organizations on ways to develop Lumbini.

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Publication:Asian Tribune (India)
Geographic Code:9NEPA
Date:Jul 13, 2011
Words:209
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