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Nepal reinstates $2.5bn hydropower deal with Chinese firm
JAY GORY, MANAGING EDITOR, science
Nepal has reinstated a deal with a Chinese state-owned company to build a $2.5 billion hydroelectric plant scrapped by the previous government, officials confirmed Monday, as the new pro-Beijing administration seeks massive infrastructure investment. The agreement with the China Gezhouba Group Corporation (CGGC) to construct Nepal's largest hydro plant was abruptly cancelled by the outgoing government just weeks before a general election late last year. "The decision to scrap the agreement with the Chinese company by the previous government was taken without any grounds," information minister Gokul Baskota told AFP. read more
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