Nepal, India finalise PDA for 900 MW Arun III Project.

India and Nepal have agreed to a draft of the second Project Development Agreement (PDA) aimed to generate hydroelectric power in the Himalayan nation and the agreement may be signed during Prime Minister Narendra Modi's visit this month.

Both the sides agreed to the 900 MW Arun III project on Arun river recently, at the end of a two day meeting held here between Nepal Investment Board (NIB) and Satluj Vidyut Nigam.

Radhesh Pant, chief executive officer of NIB and R K Agrawal, executive director of Satluj led their respective teams during the meeting, sources said.

The PDA is expected to be signed between Nepalese and Indian officials towards November end when Prime Minister Narendra Modi will arrive in Nepal to attend the 18th SAARC Summit.


ET