Kathmandu. KATHMANDU: Millennium Challenge Account Nepal Development Committee (MCA-Nepal) has signed a memorandum of understanding (MoU) to build 117-km section of electricity transmission line under the MCC Nepal Compact.

With this agreement, the completion of the agreement related to the construction of the 315-km electric transmission line under the MCC Nepal Compact has been completed.

The joint venture will build 117 km transmission line from the under-construction Lapsiphedi substation in Kathmandu to the under-construction new Hetauda substation in Makwanpur district via the under-construction Ratmate substation in Nuwakot.

The contract awarded by MCA-Nepal through an international competitive procurement process is worth around 766.5 million US dollars. Under this agreement, the design, installment, testing and operation of the 400 kV transmission line will be ensured.

Khadga Bahadur Bista, Executive Director of MCA-Nepal and Nirman Gauli, representative of Ashish-Bozler Joint Venture, signed the agreement in the presence of MCC-Nepal and MCA-Nepal officials.

MCC Resident Country Director Diane L. “The signing of this agreement represents a remarkable progress Nepal has made in the implementation of the Compact,” Francisco said. This achievement is a result of the intense dedication and commitment of MCA-Nepal to the successful construction of this important transmission line and to the future development and prosperity of the people of Nepal. ”

“Today, with the signing of this agreement with the Ashish-Bozler joint venture, MCA-Nepal will achieve significant milestones in the implementation of the MCC Nepal Compact. The conclusion of agreement on the construction of all sections of the electricity transmission line under the Electricity Transmission Project is an important achievement. ”

MCA-Nepal has already signed an agreement for the construction of 198-km electricity transmission line from Ratmate substation in Nuwakot to New Damauli substation in Tanahun district, to New Butwal substation in Nawalparasi (west of Bardaghat Susta) and from there to the Nepal-India border. In addition, agreements have been signed for the construction of Ratmate substation, New Damauli substation and new Butwal substation.

The MCC Nepal Compact is a historic support for Nepal’s long-term economic development, creating a positive environment for private investment. The MCC Nepal Compact aims to support economic growth through the implementation of power transmission and road repair projects, strengthen critical infrastructure, enhance cross-border energy trade, and improve Nepal’s transportation network.