New Delhi: State-owned SJVN Ltd will develop another hydropower project Arun-4 at a cost of Rs 4,900 crore in Nepal. It will generate around 2,100 million units of energy per annum.
A memorandum of understanding (MoU) for the development of the 490 MW project was signed at Lumbini in Nepal in the presence of Prime Minister Narendra Modi and his counterpart Prime Minister Sher Bahadur Deuba, the company said in a statement on Monday.
SJVN Chairman and Managing Director Nand Lal Sharma said it would be the third mega project to be constructed by the company in Nepal. The construction of the 900 MW Arun-3 project was in progress while the 669 MW Lower Arun project was at the survey and investigation stage.
Sharma said that the SJVN was targeting 5,000 MW projects in Nepal by 2030. Besides the three hydropower projects, the SJVN was also constructing a 217-km 400 kV associated transmission system for evacuation of power in Nepal.