India to spend over Rs 837 cr in Nepal developmental projects

Ajay Kaul
Kathmandu, Jan 16 (PTI) Giving a boost to bilateral ties,
India will undertake developmental activities worth over Rs
837 crore in Nepal under four pacts signed between the two
countries in fields like infrastructure, power and science and
technology.
One of the major projects that India will undertake
entails construction of a 680-km long highway in Terai region
of Nepal at the cost of Rs 810 crore.
The MoU on Strengthening of Road Infrastructure in Terai
area was signed by Indian External Affairs Minister S M
Krishna, who is on a three-day visit here, and Nepalese Deputy
Prime Minister and Foreign Minister Sujata Koirala here on
Friday.
The road will improve connectivity within the region as
well as its link with India.
In presence of Krishna and Koirala, officials of the
two countries also signed an MoU in power sector under which
five villages of Nepal would be electrified at the cost of Rs
6.3 crore.
India is already providing 20 MW of power and decided
to give 30 MW more. Nepal is seeking another 30 MW which India
has agreed to provide.
An agreement between Nepal Stock Exchange Limited
(NPSE) and Central Depository Services (India) was also signed
under which India will assist Nepal in setting up a Central
Depository and Clearing and Settlement System at the cost of
Rs 5.75 crore. (More) PTI