“Nand Lal Sharma, chairman and managing director of Satlaj Jalavidyut Nigam Ltd., was felicitated by Prime Minister of Nepal Sher Bahadur Deuba at a function held at the Singha Durbar, Kathmandu, to commemorate the 10th anniversary of the Investment Board of Nepal (IBN),” SJVN said in a statement.
Janardan Sharma, Finance Minister of Nepal and Vice-chairman of IBN; Pampha Bhusal, Minister for Energy, Water Resources and Irrigation; and Sushil Bhatta, CEO of IBN; were also present on the occasion along with other dignitaries from Nepal and abroad.
During the ceremony, the PM Deuba praised Sharma for his relentless efforts in the development of hydropower in Nepal. The Prime Minister also appreciated the pace of ongoing activities in the development of the 900-megawatt Arun-3 Hydro Electric Project.
Speaking on the occasion, Nand Lal Sharma said 900-MW Arun-3 Project is making progress ahead of schedule. He further stated that SJVN is executing one of IBN”s transformative public-private partnership projects, the 900-MW Arun-3 Hydro Electric Project, on Arun River. This project is being implemented expeditiously and is targeted for completion in the financial year 2023-24.
He also assured the Government of Nepal that the 679-MW Lower Arun Hydro Electric Project will be developed as a model project in the Southeast Asian region. He also reiterated the resolve of SJVN to complete Lower Arun hydrpower project in a record time of around five years. Commissioning of these projects will usher in an era of prosperity and socio-economic development of the nation.
In his address, Sharma emphasised upon the Integrated River Basin Development approach for harnessing hydropower. This approach would facilitate ease of planning the evacuation and transmission of power as well as develop infrastructure and optimum utilisation of manpower, comprehensive environment management and sharing of infrastructure.
He further said that this approach also offers several advantages to the local communities.
The infrastructure, which is established for the construction of power projects, results in benefitting every stratum of the society, uplifting the socio-economic status of the local populace and overall development of the entire region. Sharma informed that currently, SJVN has a portfolio of 10,000 MW with a strong track record of developing mega hydro projects in challenging Himalayan terrain. He urged the prime minister to favourably consider SJVN for allocating more projects in Nepal. He emphasized that the fast harnessing of the hydropower potential of Nepal is KEY to its rapid economic growth.