Russia interested to invest in hydropower sector of Nepal

Kathmandu: Russia has shown interest to invest in hydropower sector of Nepal.

H.E. Aleksei A. Novikov, Ambassador of the Russian Federation to Nepal along with other delegates talked about the investment during a meeting with Minister for Energy, Water Resources and Irrigation Barsha Man Pun.

Ambassador Novikov said that two big banks of Russia — Lanta Bank and Moscow Industrial Bank — will invest in the hydropower sector of Nepal.

The Russian delegates said that the investment will be based on the agreement between the Government of Nepal and the Government of Russia.

The Russian Ambassador expressed his concern about the policy related to electricity production and distribution.

Similarly, the team also talked about possibility of hydropower and irrigation projects in Nepal.

Ambassador Novikov said that the project will be taken as ‘Pilot Project’ in the beginning and further investment will be made after market research.