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Nepal Timeline: News, Updates & Discussions

Discussion in 'South Asia & SAARC' started by Agent_47, Sep 5, 2017.

  1. Agent_47

    Agent_47 Admin - Blog Staff Member MODERATOR

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    China, U.S. investing in Nepal

    Himalayan nation becomes recipient of funds for infrastructure projects
    Indicating the growing importance of the Himalayan region in global politics, a new round of competition has begun in Nepal among the great powers. On Sunday, Nepal concluded one of the biggest infrastructure-related deals with China even as reports came of a big grant of funds by the U.S.

    Sunday’s agreement on a cement venture was between the Investment Board of Nepal and Hongshi-Shivam Cement, a Nepal-China venture. “The signing of the agreement is a signal to the private sector, both external and internal, that Nepal has good business climate,” Finance Minister Gyanendra Bahadur Karki said. The deal is likely to boost the infrastructure sector in Nepal, which is drawing international investment.

    The timing of the agreement is important as it came just four days before Nepal’s Deputy Prime Minister and Foreign Minister Krishna Bahadur Mahara will hold talks in Beijing on Nepal’s place in China’s One Belt One Road (OBOR) scheme.

    $500 million grant

    In the backdrop of the landmark boost to Nepal-China infrastructure segment has come the U.S. announcement of a grant of $500 million for Nepal to work on its development goals.

    Reports said the grant would be made by the Millennium Challenge Corporation, an independent U.S. government organisation active in the field of poverty reduction and economic development. This fund too will be used to build an electricity transmission network and construct 300 km of roads.

    The Chinese and American projects in Nepal are taking off even as India is conducting the fortnight-long annual Nepal-India joint military exercise to be concluded on September 16. Nepal’s infrastructure sector has received attention from India in the recent past.

    During the visit of Prime Minister Sher Bahadur Deuba to Delhi, India pledged support to Nepal in the infrastructure field.

    The joint statement of September 24 said, “The two Prime Ministers noted with satisfaction utilisation of the two Lines of Credit of $100 million and $250 million for development of roads and power infrastructure in Nepal.”


    http://www.thehindu.com/news/international/china-us-investing-in-nepal/article19621229.ece
     
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  2. Agent_47

    Agent_47 Admin - Blog Staff Member MODERATOR

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  3. Satendra kumar

    Satendra kumar FULL MEMBER

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    Nepal is a secular state whee democracy,constitution rights,civil liberty,peace,multi-lingual faith,belief's.culture has been great virtue.Social economic development is a major priority.Nepal with abundance resource and intellectual has great potential for investment and trade.As the world's trade pattern is mordernising,advancing,digitising,globalising,Nepal is also opening it's economic to the world market for trade and investment.
     
  4. Butter Chicken

    Butter Chicken Captain FULL MEMBER

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    Nepal scraps $2.5-billion hydropower plant deal with Chinese company


    KATHMANDU: Nepal has scrapped a $2.5 billion deal with China Gezhouba Group Corporation to build the country's biggest hydropower plant, citing lapses in the award process, the energy minister said.

    Critics say the $2.5 billion project was handed to the Chinese company without any competitive bidding, which is required by law, and a parliamentary panel asked the government that succeeded the Maoist-led coalition to scrap the deal.
     
  5. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

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    KATHMANDU (Reuters) - Nepal has scrapped a $2.5 billion deal with China Gezhouba Group Corporation to build the country’s biggest hydropower plant, citing lapses in the award process, the energy minister said.

    “The cabinet has cancelled the irregular ... agreement with Gezhouba Group to build the Budhi Gandaki hydroelectric project,” Energy Minister Kamal Thapa, who is also the country’s deputy prime minister, said on Monday in a twitter post in Nepali after a cabinet meeting. He did not give further details.


    Nepal’s rivers, cascading from the snow-capped Himalayas, have vast, untapped potential for hydropower generation, but a lack of funds and technology has made Nepal lean on neighbour India to meet annual demand of 1,400 megawatts (MW).

    In June, a Maoist-dominated coalition government awarded a contract to China Gezhouba Group Corporation to build a 1,200 MW plant on the Budhi Gandaki river, about 50 km (32 miles) west of Kathmandu, to address acute power shortages.

    Critics say the $2.5 billion project was handed to the Chinese company without any competitive bidding, which is required by law, and a parliamentary panel asked the government that succeeded the Maoist-led coalition to scrap the deal.

    Speaking in Beijing on Tuesday, Chinese Foreign Ministry spokesman Geng Shuang said he was unaware of the reports but said China maintained very good relations with Nepal and enjoyed cooperation in many areas and projects.

    Gezhouba did not immediately respond to a faxed request for comment and did not answer telephone calls.

    China and India jostle for influence with aid and investment in infrastructure projects in Nepal.

    Kathmandu has cleared a 750 MW project to be built on the West Seti River in the western part of the country by China’s state-owned Three Gorges International Corp.

    It has also permitted two Indian companies - GMR Group and Satluj Jal Vidyut Nigam Limited - to build one hydropower plant each, both capable of generating 900 MW of power each, mainly to be exported to India.

    https://in.reuters.com/article/nepa...-deal-with-chinese-company-idINKBN1DD1R5?il=0
     
  6. Guynextdoor

    Guynextdoor BANNED BANNED

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    @Hellfire, please open the Chinese warning thread again coz...it's gonna get really ugly
     
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  7. Satendra kumar

    Satendra kumar FULL MEMBER

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    High Percentage loan,which will ordinary Nepalese hard to repay,also to much red tape with Chinese.
     
  8. HariPrasad

    HariPrasad Lieutenant FULL MEMBER

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    China is getting the test of Modi Diplomacy. It is always better for Nepal to partner with India. CHina really messed up in Myanmar in hydro project without proper study. Nepal and India may partner in this project. India will ensure proper quality of dam as if anything goes wrong, India shall also be affected.
     
  9. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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    Details of Chinese loans lies on the fine prints, read that and stay the hell away.
     

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