Saurabh Vijay assumes charge as CEO of Unique Identification Authority of India (See 'Corp Brief') Minister reviews technology-led underground mining, integrated smelting operations (See 'Corp Brief') Companies Act - Appellant company directed to change its name where it significantly resembles the name of a pre-existing company and may cause confusion: HC (See 'Legal Desk') Scientific Steering Committee Meeting on National One Health Mission Held in New Delhi (See 'Corp Brief') Govt launches campaign to reduce edible oil consumption (See 'Corp Brief') PMLA - Provisional attachment unsustainable when Initiating Officer fails to establish source of consideration & beneficial ownership as per Section 2(9)(A): SAFEMA (See 'Legal Desk') HM inaugurates 'Million Minds Tech Park' and 'GREMI City Campus' in Ahmedabad (See 'Corp Brief') Amit Shah inaugurates State-of-the-Art Milk Processing Plant of Madhur Dairy (See 'Corp Brief') Experts Discuss Yoga for Youth and Mental Wellness in Digital Era (See 'Corp Brief') Misc - RBI circular dated June 07, 2019 on 'Prudential Framework for Resolution of Stressed Assets' was policy decision taken by expert body in larger public interest: HC (See 'Legal Desk') GeM continues to support Digital Public Procurement System (See 'Corp Brief') Ministry of Education reviews strategy for mainstreaming Out-of-School children (See 'Corp Brief') Misc - NBFC cannot reposses financed vehicle through coercive means, without adherence to due process of law and in violation of RBI recovery guidelines: HC (See 'Legal Desk') Govt extends timeline for Global Tender for REPM scheme (See 'Corp Brief') Indian Pharmacopoeia Commission organizes Scientific Conclave (See 'Corp Brief') A&C - Later attempt by insurer to artificially split same claim into separate components of admitted and denied liability does not render unpaid component non-arbitrable: HC (See 'Legal Desk') Scindia reviews Key Development Projects during Sikkim Visit (See 'Corp Brief') Union Minister of State for Coal & Mines reviews CMPDIL (See 'Corp Brief') IBC - If transaction was builder-linked contractual arrangement rather than pure financial debt default, Section 7 IBC proceedings cannot be used in parallel with DRT recovery proceedings: SC (See 'Legal Desk') Commerce Minister chairs meet on promoting fisheries exports (See 'Corp Brief') Govt reviews progress of micro Food Processing Enterprises in Leh (See 'Corp Brief') FERA - Foreign judgment is unenforceable in India as it fell within exceptions u/s 13 CPC: SC (See 'Legal Desk') Railways carries 170% more Cement in last 4 Months (See 'Corp Brief') A&C - Once seat of arbitration is expressly designated by agreement of parties, that seat becomes juridical home of arbitration and operates akin to exclusive jurisdiction clause: SC (See 'Legal Desk') Self-reliance and jointness must for strategic autonomy & future-ready force: RM (See 'Corp Brief') Company Law - For purpose of maintainability of petitions u/s 397 & 398, expression ‘member' is not to be confined only to formal entry in register of members u/s 41(2): SC (See 'Legal Desk') NCB launches 6-Month Online Certification Program on Advanced Concrete Technology (See 'Corp Brief') IBC - While subsidiary companies are separate legal entities, corporate veil may be lifted if associated companies are inextricably connected so as to form one concern: SC (See 'Legal Desk') Supreme Court lays down scenarios for lifting of Doctrine of Corporate Veil (See 'CORP EINSICHTf')

Nepalese PM triggers last blast of Head Race Tunnel of Arun-3 Hydro Electric Project

Published: Jun 06, 2024

By TIOLCorplaws News Service

NEW DELHI, JUNE 06, 2024: PRIME Minister of Nepal Pushpa Kamal Dahal 'Prachanda' triggered the last blast to mark the completion of heading excavation for the 11.8 km long Head Race Tunnel of 900 MW Arun- 3 Hydro Electric Project in Sankhuwasabha District of Nepal. Arun - 3 Hydro Electric Project is being executed by SJVN Arun-3 Power Development Company Pvt. Ltd. (SAPDC), a fully owned subsidiary of SJVN. SAPDC is a significant collaboration between SJVN and the Government of Nepal, which aims to enhance regional energy security and boost economic development through sustainable hydropower generation in Arun River Basin.

Minister of Energy, Water Resources and Irrigation of Nepal Shakti Bahadur Basnet; Health Minister, Province 1 of Nepal Rajender Karki; India's Ambassador to Nepal Naveen Srivastava; Chairperson & Managing Director, SJVN, Sushil Sharma; CEO, Investment Board of Nepal. Sushil Bhatta; CEO, SAPDC, Arun Dhiman; Executive Director, SJVN, Rakesh Sehgal ; and other officials of Government of Nepal and local authorities were present at the tunnel breakthrough ceremony.

Addressing the gathering, the Prime Minister of Nepal said that this breakthrough brings us closer to the goal of providing clean, renewable energy and in contributing to the sustainable development of the region. He expressed his appreciation for the ongoing efforts and reaffirmed the commitment of the Government of Nepal to facilitate the timely completion of Arun - 3 Hydro Electric Project.

India's Ambassador to Nepal Naveen Srivastava recalled in his address that the Prime Minister of India Narendra Modi and his Nepali counterpart Pushpa Kamal Dahal 'Prachanda' had agreed last year, to the long-term power trade agreement for the import of electricity from Nepal. He said that completion of export-oriented 900 MW Arun 3 Hydro Electric Project will be a major milestone for this.

CMD, SJVN, Sushil Sharma apprised the Prime Minister of Nepal that the successful breakthrough of the Head Race Tunnel marks a significant milestone in the construction of the 900 MW Arun-3 Hydro Electric Project. He added that the successful completion of the Head Race Tunnel is a monumental achievement in the journey to harness the hydropower potential of the Arun River.

The CMD briefed the Prime Minister about the progress of the project and the associated 217 km. long transmission line. He informed that more than 74% of the project works have been completed and that the remaining works are going on in full swing. He added that Arun- 3 Hydro Electric Project will start generating electricity by next year and that it has the potential to generate 3,924 million units of electricity every year.

The CMD said: "We are grateful for the unwavering support from the Government of Nepal, local authorities, and the community. This project symbolizes the strong partnership between India and Nepal in the energy sector and our collective efforts to achieve energy security and environmental sustainability."

During his visit to Nepal, CMD, SJVN also met with Chief Secretary of Nepal Dr. Baikuntha Aryal and Home Secretary of Nepal Eaknarayan Aryal and discussed various issues related to development of hydroelectric projects in Arun Valley in Nepal.

Currently, SJVN is executing 2,200 MW of three Hydroelectric Projects on Arun River basin in Nepal.

TIOL CORP SEARCH

TIOL GROUP WEBSITES