GMR is likely to sign a project development agreement (PDA) with the Nepal government for the Upper Karnali hydropower project. The pact will be signed during Prime Minister, Narendra Modi’s visit to the country, beginning Sunday.

The contents of the draft agreement are to be finalised today by the Nepal Cabinet. The agreement will be signed by the Investment Board Nepal, a government body mandated to handle mega projects in the country, and the Upper Karnali project promoter, GMR, on Sunday.

A consortium of GMR Energy, GMR Infrastructure and Italian-Thai Development Public Co, and Nepal Electricity Authority have signed a Joint Venture Agreement (JV) for developing the 900 MW Upper Karnali hydroelectric project, in Nepal. The project, to be set up on Karnali River, in Surkhet, Dailekh & Accham districts of Nepal, will be developed on a build, own, operate and transfer (BOOT) basis.