Kathmandu — South Korea has expressed interest for investment in another power project in Nepal. South Korea, which had invested in Chameliya Hydropower Project, has shown interests for investment in Upper Modi A Project.All pre-project development studies on the 42 MW project have been carried out by Nepal Electricity Authority (NEA). Ambassador of South Korea to Nepal Hong Sang Mog showed his country´s interest for investment in the project during a recent meeting with Energy Minister Dr Prakash Sharan Mahat . He urged the minister to give South Korea the responsibility of development and construction of one attractive power project.South Korea wants to provide financial assistance for one attractive project in Nepal, minister Mahat said.According to officials at Ministry of Energy, Nepal, Korean investors have also visited the Upper Modi A site several times. "We have requested South Korean government to invest in two hydro projects," said minister Mahat. Nepal had requested Korea to invest in the 600 MW Aandhi Khola Hydropower Project which is a reservoir based project. But as it is a mega project, South Korean government has been reluctant for investment in it. The Korean government has hinted that it can finance the project in Nepal through financial institutions in Korea. Once it decides to provide the aid, it will select the contractor of its own choice. According to technical officers at NEA, the estimated investment need for Upper Modi A is Rs 6 billion ( US $ 80.3 million).Korea has already invested $45 million for the under-construction Chameliya project.
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Anil Giri serves as Kathmandu Correspondent for The Seoul Times.As a journalist he has worked for such news media as Annapurna Post, BBC, and Himalayan Times for years. He finished his both undergrad Economics degree and his MA degree in English Literature at Tribhuvan Univ., Kathmandu. He also holds a diploma in Development Journalism from prestigious Indian Institute of Mass Communication-IIMC, New Delhi, India.
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