July 23, 2023 | Investopaper
After an arduous seven-year journey, the Detailed Project Report (DPR) for the ambitious 417 MW Nalgad Hydropower Project has been successfully completed. This milestone was achieved through the collaborative efforts of Australian companies Smack and MWH, working in conjunction with Nepal’s Udaya JV.
Originally slated to be completed within a 31-month timeframe in 2073 BS, the DPR encountered various obstacles and delays, leading to multiple extensions of the deadline. However, despite these challenges, the project has made considerable progress and has now advanced to the pivotal Environmental Impact Assessment (EIA) phase.
The Ministry of Energy has forwarded the pertinent file to the Ministry of Forests and Environment to obtain the necessary approvals for the Environmental Impact Assessment (EIA).
Once the EIA receives the green light, the project’s construction process will be poised to move forward. The Japanese International Cooperation Agency (JICA) has demonstrated an interest in investing in the project. Discussions regarding the agreement with JICA are currently underway.
The construction of the Nalgad Hydropower Project is estimated to require an investment of approximately 123 billion rupees. The ambitious goal is to complete this undertaking within six and a half years from the commencement of construction.