The most anticipated Upper Karnali project development agreement (PDA) has been signed between Nepal and Indian company GMR Ltd.The CEO of Investment Board Nepal and Vice Chairman of GMR Ltd, Arbind Mancha has signed the agreement paper on behalf of Nepal and Indian side respectively. Prime Minister Sushil Koirala, Indian Home Minister Rajnath Singh, Cabinet Ministers, UML Chairman KP Oli, Vice Chairman of National Planning Commission and Indian Ambassador were present at the agreement signing ceremony.
According to the agreement GMR will manage the necessary fund for the project within two years and the whole project will be completed by 2021.Indian Home Minister Singh has asked the GMR to complete the project on time which is related to Indian pride and India has always wished Nepal to move towards prosperity.
The PDA agreement can be summarized as below (Not Official):
1.GMR will manage the necessary fund within 2 years
2.900 MW Upper Karnali project will be completed by 2021 where Nepal will get free 27% shares and 12 percent of free electricity
3.After 25 years, GMR will handover the Project to Nepal in an operational status.
4.GMR will construct the 108 KM Transmission Line up to Indian Border
5.GMR will construct necessary dam sites to regulate the water flow from the project site.
Most of the Nepali authorities have welcomed the agreement saying it will open the door of prosperity for Nepal whereas CPN Maoist Baidhya Faction and his allies have denounced the agreement saying it’s against the welfare of Nepalese people. These parties have announced the protest programs including burning the PDA and pretesting at Karnali area.
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