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News Brief | October 2014

Nepal to allow GMR to build power plant

Officials say Nepal's government has endorsed plans for GMR to build the Himalayan nation's largest hydro power plant. Govinda Pokhrel of Nepal's national planning commission says a Cabinet meeting endorsed a draft agreement to allow the company to build the $1.15 billion power plant with a 900 megawatt capacity. GMR executives are expected to fly to Nepal and sign the final agreement with Nepalese officials. Nepal is facing severe power shortages with residents suffering power cuts of up to 12 hours a day.
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