DRDO & Indian Navy conduct maiden successful Salvo launch of NASM-SR missiles (See 'Corp Brief') Sacred relics of Lord Buddha arrive in Leh, witnesses spiritual gathering (See 'Corp Brief') Electrification of buses & trucks is essential for achieving India's decarbonisation targets (See 'Corp Brief') Health-Seeking Behaviour Strengthens as Proportion of Population Reported Ailing in 2025 Nearly Doubles (See 'Corp Brief') Railway Minister to Flag Off Extended Srinagar-Jammu Vande Bharat (See 'Corp Brief') Secretary, DFS Lauds MUDRA Schemes of Financial Inclusion with Public Sector Banks (See 'Corp Brief') PMLA - Separate properties of another company or LLP cannot be attached merely because of shareholding linkage, absent demonstrated money trail to such properties: SAFEMA (See 'Legal Desk') CCI approves Mizuho Securities to acquire certain equity of Avendus Capital (See 'Corp Brief') CCI approves merger of A1 Agri Global, B.N. Agritech & Salasar Balaji Overseas (See 'Corp Brief') CCI approves acquisition by MAIF in Maple IM, Maple PM & Maple Trust (See 'Corp Brief') IBC - Minimum default threshold u/s 4 is met in case involving operational debt denominated in foreign currency, if foreign currency amount is converted into Indian Rupees with reference to exchange rate prevailing on date of invoice: NCLT (See 'Legal Desk') World IP day - Govt announces 3-year fee waiver for sports-related IP registrations (See 'Corp Brief') Govt organizes workshop on developing critical minerals value chain (See 'Corp Brief') Competition Act - Tender conditions & eligibility criteria are primarily within procurer's domain and, absent evidence that such clauses restricts competition or cause exclusionary harm, no intervention is warranted: CCI (See 'Legal Desk') TRAI releases Consultation Paper on 'Proliferation of Public Wi-Fi Networks in India' (See 'Corp Brief') DoP and DTDC sign MoU to strengthen Logistics and E-Commerce in India (See 'Corp Brief') Trade Mark - Defendants' conduct of running a coordinated fraudulent recruitment scheme, impersonating the plaintiffs & extracting money from each candidate, is deliberate exploitation of plaintiffs' goodwill & causes reputational harm: HC (See 'Legal Desk') PDUNASS-Gujarat NLU launch Programme on Labour Law and Social Security Compliance (See 'Corp Brief') Shivraj to launch PMGSY-IV Batch-II in Srinagar (See 'Corp Brief') India emphasises Inclusive and Ecosystem Based Governance of Small Scale Fisheries (See 'Corp Brief') SAFEMA - Certain transaction falls within ambit of benami transaction where appellants failed to produce supporting material, despite opportunity, to establish legitimate source of funds either in hands of lender or alleged contributors: SAFEMA TRIBUNAL (See 'Legal Desk') Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk')

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