Nepal, China sign three pacts to boost energy, economic, technological ties
Nepal and China on Tuesday signed three pacts to further boost their ties in power and energy sectors and undertake a feasibility study to excavate natural gas and petroleum in the Himalayan country, including in the southern Terai plains.
The pacts were signed after visiting Chinese vice premier Wang Yang held discussions with Nepal’s deputy prime ministers Bijaya Kumar Gachhadar and Krishna Bahadur Mahara.
The agreements cover three different domains — economic and technological cooperation, China-aid oil and gas resources survey project and framework agreement on promotion of investment and economic cooperation, Nepal’s state-run National News Agency reported.
They include a feasibility study for excavating natural gas and petroleum in mountain areas and plains of the Terai region.
The two countries agreed to establish hydropower projects and transmission lines and take steps for economic and technological development in Nepal, which suffers from acute shortage of electricity.
Finance Secretary Shanta Raj Subedi told the agency the pacts would make significant contributions in Nepal’s socio- economic transformation.