New Delhi : New Butwal-Gorakhapur Transnational Transmission Line which has been considered an important power trade project between Nepal and India has been formally launched.   Visiting Prime Minister Pushpa Kamal Dahal 'Prachanda' and his Indian counterpart Narendra Modi today virtually participated in the launch of the project amidst a ceremony at Hyderabad House, New Delhi.

As per agreement made during the meeting of Nepal-India energy Joint Steering Committee (JSC) in the past, Nepal and India will have an equal share of 50/50 percent in the 400 KV transmission line. This is the second high-capacity cross-border power project between the two close neighbours. The project will be implemented under a company model.

The government of Nepal has already granted permission to the Nepal Electricity Authority to make investments in the joint company. This development during the Prime Minister's India visit paves the way for the NEA to undertake the Project.

Likewise, the Indian side has already endorsed foreign investment in the project. NEA Managing Director Kulman Ghising believes that the latest development over the project would contribute to taking it a pace. As he said, the process for the construction of the transmission line has been already initiated and aimed to be completed within the next three years.

The NEA and Power Grid Corporation of India Limited (POWERGRID) are jointly working on the project.