FinMin Mahat requests ADB to expedite investment process in Dudhkoshi Hydropower Project

Kathmandu: Finance Minister Prakasharan Mahat on Thursday requested the Asian Development Bank (ADB) to take forward the process for investment in the reservoir-based Dudhkoshi Hydropower Project.

In a meeting held with representatives of various donor agencies related to the Upper Arun Hydropower Project at the Ministry of Finance, Mahat urged the ADB, one of the main development partners of the country.

Mahat underlined that Nepal needs many reservoir schemes as the country has to depend mainly on electricity imported from India during the dry season. He said the government has targeted to reduce consumption of petroleum products in Nepal, for which the country needs to tap its great potential for hydropower.

India has ensured to purchase 10,000 MW from Nepal during the recent visit of Prime Minister Pushpa Kamal Dahal to the southern neighbor. “We are in the process of reducing the consumption of petroleum products while increasing the domestic market. For this purpose, we need a number of storage projects,” Mahat said.