Progress on Arun 3 hydel project.
Finally, the Nepali banks have become ready to invest on the long awaited Arun 3 project. Now, it is hoped that the project construction works will kick off.
There is above three decades long story on the construction of this mega hydropower project. Nepali intellectuals and UML leaders put pressure to the World Bank to cancel the project some three decades ago.
After cancellation of the project, the Indians came to invest in the project. For years, the Indians occupied the project and finally, they have become successful to construct the project with Nepali depositors' money from two private sector banks! If the Nepali commercial banks were able to fund in the project, why we needed to handover the ownership of the project to the Indians? Are Budhi Gandaki, Upper Seti and other mega projects too waiting for foreign ownership with Nepali investment in these hydropower projects? May be, this is the Oli nationalism of handing over projects to foreigners but managing funds by the country itself!
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|Publication:||People's Review (Kathmandu, Nepal)|
|Date:||Feb 14, 2020|
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