CCI okays ICICI Prudential to take over certain businesses of ICICI Venture (See 'Corp Brief') CCI allows Jindal Jhajjar to acquire Jhajjar Power (See 'Corp Brief') CCI approves acquisition of Toyota Industries by Toyota Asset Preparatory (See 'Corp Brief') IPR - If mark 'SACHAMOTI' and copyright in label are registered in favour of respondent, same shall enure to benefit of respondent insofar as rights flowing u/s 28 of Trade Marks Act is concerned: HC (See 'Legal Desk') India is entering golden era of defence innovation: RM (See 'Corp Brief') Last date to opt for UPS inches near (See 'Corp Brief') Goyal addresses National Conference of Trade Leaders (See 'Corp Brief') Benami - Provisional attachment shall be quashed, if property which was provisionally attached is neither Benami nor transaction which has occurred with respect to said property is benami: SAFEMA (See 'Legal Desk') MoS announces Rs.720 Crore Quantum Fabrication facilities at IIT Bombay (See 'Corp Brief') India, Afghanistan to deepen cooperation in Textile Sector (See 'Corp Brief') MoS lauds Quantum sensing breakthroughs by IIT, inaugurates first Liquid Helium Cryogenic facility (See 'Corp Brief') Evidence-Based Ayurvedic Products are Future of Wellness: Jadhav (See 'Corp Brief') Hotel, Industry & farmers partnerships is Critical for mutual growth: Agri Secy (See 'Corp Brief') MeitY launches Cyber Security Innovation Challenge (See 'Corp Brief') India-Oman Joint Military Cooperation Committee meeting held in New Delhi (See 'Corp Brief') A&C - Once right to file written statement is closed, application under Section 8 of Arbitration and Conciliation Act seeking reference to arbitration is not maintainable: HC (See 'Legal Desk') 'Workers are the miners of nation-building': Sonowal (See 'Corp Brief') India strengthens Textile and Sericulture Cooperation with Georgia (See 'Corp Brief') J&K to host launch of First Limestone Block Auction Roadshow (See 'Corp Brief') Indian Railways crosses 1 Billion Tonne Freight Loading in FY 25-26 (See 'Corp Brief') FEMA - Indian currency falls within scope of 'property' u/s 63 of FERA, empowering authorities to confiscate it when used in contravention of law: HC (See 'Legal Desk') IICA, DGR conclude Certification Program for senior Defence Officers (See 'Corp Brief') Op Drishti: Over 400 surgeries performed at Northern Command, J&K (See 'Corp Brief') ILO welcomes India's Labour Codes (See 'Corp Brief') Limitation Act - provisions of Limitation Act cannot be applied beneficially in favor of a petitioner who demonstrates mala fide intentions, including tampering with official documents: HC (See 'Legal Desk') PMLA - Pre-arrest protection would undermine integrity of ongoing investigation, and anticipatory bail in such cases should be granted sparingly: HC (See 'Legal Desk') RTI/SEBI - Refusal to disclose certain information justified, where details sought for pertains to commercial interests of third parties & received by SEBI in fiduciary capacity during its regulatory functions & disclosure of which could harm competitive position of relevant entities - YES: SEBI (See 'Legal Desk') Misc - When election process was initiated by notifying election and subsequently commenced, writ petition is not maintainable against it without exhausting alternate remedy: HC (See 'Legal Desk') PMLA - Question of substitution of attached property by way of any cash deposit or fixed deposit does not arise, if said property directly/indirectly acquired are attached, but not attached as value thereof: SAFEMA (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT)

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