The Asian Development Bank (ADB) is likely to withdraw its investment from West Seti Hydro (WSH) project to which the bank had earlier agreed for 15 percent investment share.
Nagarik daily quoted sources at the energy ministry to have said that the ADB is reluctant to invest in WSH saying the project is not commercially attractive. (Nagarik News)
The 750 MW project is designed for commercial production of the electricity of which 10 percent will be supplied to Nepal free of cost while the rest will be sold to India.
Following hints from ADB for withdrawing from the project, Sowing Mountains Engineering Corporation (SMEC), the other investor of the project, is looking for another partner willing to have 50 percent share. The Australian firm SMEC has 26 percent share in the project.
WSH-government agreement expires on December 31. The parliamentary committee and other lobbying groups have pressurised the government for not renewing the agreement saying the project is more beneficial to India than Nepal. According to agreement, the WSH needs to finalise its financial management before getting license.
Meanwhile, a watchdog group has been announced in an email circular. The circular confirmed of the new initiative by youths - Seti Watch,specially focusing on the west seti hydropower project. (Seti Watch Circular)
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December 9th, 2009 at 7:26 pm
It is rather sad that in this case,everyone lost with this news.
but I truly feel that the people of far western region lost so much much more. This project might have been a model of development in a region that hardly has any. and it is infested by NGO’s providing their own donor funded services that makes us more and more reliable on them for the coming decade.
A special thank you to the politicians of kathmandu for being “themselves”.
Another special thank you goes to the NGOs who are interested in making Nepal “so natural” that they would be happy if we lived in medieval caves, while keeping our environment safe and clean.
and a big thank you to the nationalists who want Nepal to be “independent” as long as we are under their ruthless dictatorship.
Also a small thank you to the ADB for for taking us 5 steps backward with your indecisive analysis and incompetent bureaucracy who has been trying to satisfy everyone while ended up satisfying no one.
I am sorry dear People of the far west Nepal. I suggest you start looking to India or china for any help.
This country of Kathmandu has no desire to ever help you out (except sending expensive helicopters with occasional rice to keep you barely alive).
bow,
jay