Hydropower business

KATHMANDU, Apr 25, 2009 (Xinhua via COMTEX) -- The Nepali government is ready to address all the policy-level and practical difficulties to facilitate and encourage investors to increase investment in power sector, said Minister for Water Resources Bishnu Prasad Poudel.

According to Sunday's The Rising Nepal daily, Poudel called on international as well as domestic investors to invest in hydropower sector of Nepal.

Poudel assured that the government had adopted more investment- friendly policies to attract investors in the potential areas.

"We are soon introducing a new Electricity Act to facilitate and promote this sector," he said while addressing the 4th International Hydropower Convention that began in the capital Kathmandu on Saturday.

The three-day convention has been organized by India-Tech Foundation, in association with the Federation of Nepalese Chambers of Commerce and Industry and Independent Power Producers Association Nepal.

While speaking at the program, he stressed the need for increased participation of foreign as well as national power developers in this sector, as the government was planning to generate 10,000 MW of hydropower in the next 10 years.