Energy strive Nepal seeks foreign investment to meet the growing energy crisis

Posted on | oktober 17, 2011 | No Comments

Flag Federal Democratic Republic of Nepal

Nepal’s Prime Minister Baburam Bhattarai on Thursday said international investment was essential to meet the energy demand of the country. PM Bhattarai said that Nepal was not being able to allure adequate investment despite enormous potentiality of energy. The request came at a time when the county is heading severe energy crisis that reaches up to 18- hours of load shedding per day. Nepal is hosting Nepal Energy Investors Forum, in a bid to invite foreign investment in the energy sectors. Around 300 energy experts from over 15 countries are taking part in the symposium. Nepal has capacity of generating more than 84,000 mw hydro project which is largely untapped due to the lack of investment. Out of the capacity, Nepal is hardly producing 600 mw at current.

PM Bhattarai further said that the government was ready to provide security if any international sectors were interested to invest in the country.

“The Government of Nepal is resolute in matters of maintaining law and order everywhere in the country. Sufficient security arrangement will be made in power project sites whenever necessary,” he said.

Vice-chairman of the Asian Development Bank (ADB), Xiaoyu Zhao, said that the forum could play a vital role in improving investments for energy in Nepal. He said that ADB is ready to collaborate with the government of Nepal to develop the physical infrastructure for the development of energy sector in Nepal.

AUTHOR: Anil Giri
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