Shimla : A Memorandum of Understanding (MoU) for development of 490 MW Arun-4 Hydro Electric Project in Nepal was signed in Lumbini, Nepal in the presence of Prime Minister of India Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba today.
The MoU was signed by Nand Lal Sharma Chairman & Managing Director, SJVN and Kulman Ghising Managing Director, Nepal Electricity Authority (NEA).
Arun -4 Hydro Electric Project will be developed in Joint Venture (JV) mode by SJVN and Nepal Electricity Authority (NEA) and in this JV, SJVN will be majority stakeholder.
The construction of this project upstream of Arun-3 HEP, will be taken up by this JV, which on completion shall generate around 2100 Million Units of energy per annum. The estimated developmental cost of this Project which is situated in Sankhuwasabha District Province-1 of Nepal is Rs 4900 Crores.
This will be the third Mega Project to be constructed in Nepal by SJVN, in addition to the already under construction 900 MW Arun-3 and 669 MW Lower Arun which is in Survey and Investigation Stage. SJVN now has three projects of total 2059 MW portfolio, in Nepal.