India to spend over Rs 837 cr in Nepal developmental projects
Giving a boost to bilateral ties, India will undertake developmental activities worth over Rs 837 crore in Nepal under four pacts signed between the two countries in fields like infrastructure, power and science and technology.
Kathmandu: Giving a boost to bilateral ties,
India will undertake developmental activities worth over Rs
837 crore in Nepal under four pacts signed between the two
countries in fields like infrastructure, power and science and
One of the major projects that India will undertake
entails construction of a 680-km long highway in Terai region
of Nepal at the cost of Rs 810 crore.
The MoU on Strengthening of Road Infrastructure in Terai
area was signed by External Affairs Minister S M Krishna, who
is on a three-day visit here, and Nepalese Deputy Prime
Minister and Foreign Minister Sujata Koirala here yesterday.
The road will improve connectivity within the region as
well as its link with India.
In presence of Krishna and Koirala, officials of the
two countries also signed an MoU in power sector under which
five villages of Nepal would be electrified at the cost of Rs
India is already providing 20 MW of power and decided
to give 30 MW more. Nepal is seeking another 30 MW which India
has agreed to provide.
An agreement between Nepal Stock Exchange Limited
(NPSE) and Central Depository Services (India) was also signed
under which India will assist Nepal in setting up a Central
Depository and Clearing and Settlement System at the cost of
Rs 5.75 crore.
The two sides also signed an MoU for establishment of
Nepal-Bharat Maitri Science Learning Centre in Khumaltar,
Lalitpur at the cost of Rs 15.5 crore.
Meanwhile, Krishna, who was supposed to go the southern
Nepalese town of Birgunj to inaugurate the Integrated Check
Post, could not visit the region today due to bad weather.
The Rs 240-crore project, in which India and Nepal have
50 percent stake each, is aimed at easier facilitation of
movement of goods.
The two countries were also expected to sign an MoU
wherein India would build a police academy in Nepal at the
cost of around Rs 500 crore. It, however, could not fructify,
with officials citing "technical reasons" for it.
The failure to sign this pact, however, may be seen in
the context of Maoists` opposition to India helping in
building capacities of Nepalese security forces.