Mid-Marsyangdi to resume work from Feb. 1

January 22, 2004
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The main contractor of the 70-megawatt Mid-Marsyangdi hydroelectricity project Wednesday signed an agreement with the Nepal Electricity Authority (NEA) to resume the stalled work from February 1, published reports said Thursday.

Deputy project director Govinda Sharma Pokhrel said the contractor, a German based company, DDC-JV has agreed to finish the work by December 15, 2006, according to the Himalayan Times.

Germany has pledged an additional assistance of 212 million euros to cover the cost overruns, stemming from the security environment at the project site, it said.

With an initial estimate of US $ 190 million for the 70 MW project, Germany had pledged 85 percent assistance towards the project cost, the daily said, adding, the project is expected to fulfil the medium-term demand of power supply by 2006.