Prime Minister of Nepal felicitates SJVN CMD Nand Lal Sharma

New Delhi: SJVN Limited's Chairman & Managing Director (CMD) Nand Lal Sharma has been felicitated by Prime Minister of Nepal Sher Bahadur Deuba at a function held at the Singha Durbar, Kathmandu to commemorate the 10th anniversary of the Investment Board of Nepal. Finance Minister of Nepal & Vice Chairman of IBN Janardan Sharma, Minister for Energy, Water Resources & Irrigation Pampha Bhusal, IBN's CEO Sushil Bhatta also graced the occasion along with other dignitaries from Nepal & Abroad.

During the ceremony, Prime Minister praised Sharma for his relentless efforts in the development of Hydro Power in Nepal. Minister also appreciated the pace of ongoing activities in the development of the 900 MW Arun-3 Hydro Electric Project.

Speaking on the occasion Sharma said that the 900 MW Arun-3 project is progressing ahead of schedule.  He further stated that SJVN is executing one of IBN's transformative Public-Private-Partnership projects – the 900 MW Arun-3 Hydro Electric Project on Arun River. This project is being implemented expeditiously and is targeted for completion in FY 2023-24.

He also assured Govt. of Nepal that the 679 MW Lower Arun Hydro Electric Project will be developed as a Model Project in the South East Asia region. He also reiterated the resolve of SJVN to complete Lower Arun HEP in a record time of around 5 years. Commissioning of these Projects will usher in an era of prosperity and socio-economic development of the nation.

In his address, Sharma emphasised upon Integrated River Basin Development approach for harnessing Hydro Power. This approach would facilitate ease of planning the evacuation and transmission of power as well as develop infrastructure and optimum utilization of manpower, comprehensive environment management and sharing of infrastructure He further told that this approach also offers several advantages to the local communities. The Infrastructure which is established for the construction of power projects results in benefitting every stratum of the society, uplifting the socio-economic status of the local populace and overall development of the entire region.

Sharma informed that currently, SJVN has a portfolio of 10,000 MW with a strong track record of developing Mega Hydro Projects in challenging Himalayan terrain. He urged Prime Minister to favourably consider SJVN for allocating more projects in Nepal. He emphasised that the fast harnessing of the hydropower potential of Nepal is KEY to its rapid economic growth. SJVN is, and will, assist the people of Nepal in facilitating its development by way of developing hydropower projects.

Investment Board Nepal (IBN), is a high-level government body chaired by the Right Hon'ble Prime Minister. IBN functions as a central fast-track government agency established to facilitate economic development in Nepal by creating an investment-friendly environment, mobilizing and managing domestic as well as foreign investments. Sharma also said that the IBN has played a great role and acted as a strong bridge between SJVN and the government of Nepal for bringing Arun -3 to this stage.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)