U.S., Indian companies interested in Nepal's hydropower sector

The U.S. and Indian companies are showing interest to invest in Nepal's hydropower sector as the country is heading towards permanent peace, local media reported on Friday.

"So, they are participating in a power summit organized by U.S. agencies in partnership with related Nepali institutions here on Friday," Kantipur F.M. radio quoted organizers of the meeting as reporting.

The U.S. Embassy, the U.S. Aid Agency (USAID), Nepal-America Chamber of Commerce and Industry and International Resource Group are jointly organizing the conference, titled Powering Nepal: Connecting Markets.

Sandeep Shah, president of Nepal Independent Power Producers Association, an organizer, said that the conference was organized to inform U.S. companies working in India as well as Indian companies about the prospect of investing in Nepal's hydropower sector.

The potential of partnership with the Nepali government for power development, legal status of Nepal and condition of transmission lines are the main agendas of the summit, Shad said.

Anup Kumar Upadhyaya, joint secretary at the Nepali Ministry of Water Resources said that the government would inform the participants about Nepal's policy, potentials of power export and legal system regarding participation of foreign companies in the sector.

The American Information Center has stated in a press release that the summit is aimed at constituting a business group among the government and private partners that would coordinate with foreign investors and donor agencies for speedy development of hydropower sector in Nepal.

It is the second huge conference being held in Nepal within one and half months on the issue following Nepal-India power summit concluded in mid-September this year.

Source: Xinhua