Preparations have been made to give final shape to the Detailed Project Report (DPR) of the Pancheshwar Multipurpose Project until October.
It has been agreed in the fourth joint meeting of the Energy Secretaries of Nepal and India that concluded on Wednesday to give final shape to the DPR and finalise all issues, Chief Executive Officer of the Pancheshwar Development Authority Mahendra Bahadur Gurung said.
According to him, an agreement has also been reached to hold the secretary-level meeting every three months and resolving the issues by synthesizing the problems.
Gurung stated that the joint meeting prepared the basis also for the benefits and the loss that Nepal and India would get from the project, the use of technology, inundation, rehabilitation and the additional topics that have to be incorporated. He said the DPR was not immediately given the final shape so as to make it more enriched by the coming October.
The Pancheshwar project which had been stalled since the last 23 years was moved forward after the Indian Prime Minister Narendra Modi's visit to Nepal. Four joint meetings on the project DPR have been held so far.
The Authority has projected to generate a total of 5,040 megawatts electricity from the project.
As has been proposed in the DPR, the proposed cost of the project is Rs 500 billion. Nepal and India will have to make equal investment in the project.
Similarly, the two countries have also come to a common view regarding the sharing of the water of the Mahakali River.