Nepal and India have forged an agreement to propel the procedural advancements of the ambitious 6,480-megawatt Pancheshwar Multipurpose power plant, stated Nepalese Foreign Minister N P Saud on Tuesday. The agreement marks a significant step towards the development of the Pancheshwar Multipurpose Project (PMP), a colossal hydropower initiative planned along the Mahakali River.
During the recent visit of India’s External Affairs Minister S Jaishankar, both nations engaged in a ministerial-level discussion centered on the Pancheshwar project, revealed Minister Saud. Following deliberations, a mutual decision was reached to expedite the procedural aspects of the project within the span of a month.
The Pancheshwar Multipurpose Project stands as a landmark initiative between Nepal and India, aimed at harnessing hydropower potential along the Mahakali River to generate 6,480 megawatts of electricity. This collaborative effort signifies a crucial stride in reinforcing bilateral ties and fostering regional cooperation between the two neighboring countries.
The decision to fast-track the project activities underscores the commitment of both nations to overcome challenges and streamline the necessary procedures for the successful execution of the Pancheshwar initiative. The project holds immense promise in addressing energy needs, promoting economic development, and fostering greater connectivity in the region.
The collaborative efforts to expedite procedural activities within a defined timeline reflect the shared vision of Nepal and India to harness renewable energy resources for mutual benefits. The agreement signifies a promising chapter in the partnership between the two nations, setting the stage for enhanced cooperation in the development and execution of vital regional projects.
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