Nepal on Friday signed a USD 12.36 million contract for a critical 18 km cross-border electricity transmission line, a crucial part of the broader Electricity Transmission Project that will deepen energy cooperation with India.
Signed under the Millennium Challenge Corporation (MCC) Nepal Compact, the 18 km transmission line project, with three sub-stations, will help Nepal achieve its domestic power goals and reinforce Nepal's position in the regional energy market, officials said.
As MCA-Nepal marks the first anniversary of the Compact's Entry-Into-Force, this new milestone reflects the unwavering commitment from all stakeholders to enhancing regional energy trade between Nepal and India, read a statement by the Millennium Challenge Account (MCA) Nepal.
The Millennium Challenge Corporation (MCC) Nepal Compact is jointly funded by the government of Nepal and the US government. The MCC was created by the US Congress in January 2004 with strong bipartisan support.
The contract, ...
