What will happen to PPC when there is an out flow of foreign exchange from India for construction of multi purpose project in Nepal..
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India and Nepal are pursuing a 5,040 MW hydropower project on River Mahakali on the India-Nepal border. The project requires a total area of 14,100 hectares and once completed will have an irrigation potential of about 430,000 hectares.
The scale of the Pancheshwar Multipurpose Project (PMP) is so far unprecedented in India. It comprises a 315-metre dam which will be among the highest in the world when completed.
While the project is a strategic tool for India to maintain influence in the region, environmentalists are raising concerns about the impact of the project in the disaster-prone and environmentally-sensitive Uttarakhand region.
Is it going to be a new wave of development in the region or is it an environmental disaster in the making?
The 5,040 megawatt (MW) Pancheshwar Multipurpose Project (PMP), planned on the India-Nepal border, got a new lease of life during Prime Minister Narendra Modi’s recent visit to the neighbouring country. However, there are still several concerns around the project and a tough road lies ahead before it finally sees the light of the day.
The joint project is envisaged on the River Mahakali, known as Sarada in India, at a location where the river forms the international boundary between India and Nepal. It is one of the highlights of the Mahakali Treaty signed between the two nations in February 1996. The aim of the project is energy production, irrigation benefits and flood control.
Being a joint project, it has been a regular feature during India-Nepal diplomatic meetings. In August 2014, during his Nepal visit, Modi and his Nepal counterpart Sushil Koirala agreed to speed up the project. It was decided to finalise the detailed project report of the PMP within six months and begin its implementation within one year. However, four years later, both are yet to happen.
Earlier this month, Modi visited Nepal and in a joint statement after the meeting, the two nations reiterated the importance of “advancing cooperation in water resources for mutual benefit in areas such as river training works, inundation and flood management, irrigation and to enhance the pace of implementation of ongoing bilateral projects.” Modi and his Nepal counterpart K. P. Sharma Oli also jointly laid the foundation stone of 900-MW Arun-III hydroelectric project in Nepal
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