The Bhutanese Leading the way.
In a meeting held on last week with an Indian delegation, Chamkhar Chu, Kholong Chu, Bunakha and Wang Chu projects were accepted by the Indian delegation to be included under the joint venture project.
The Bhutanese delegation was lead by the secretary of the economic affairs, Sonam Tshering for to further discuss on the agreements mainly on reversion of the project after concession period and the debt-financing of the project which was not agreed by both the parties in the earlier 9th Empowered Joint Group Meeting held on 11 June this year.
The finalization of the joint venture is yet to be decided but the meeting between the Indian and the Bhutanese delegation is positive about it. The Bhutanese delegation also discussed some of the content of the provisions which seemed unnecessary and required mutual understanding.
There were few disagreement between the partners regarding the reversion of the project after the concession period and the debt-financing which barred the partnering the project earlier this year.
However this time, with the meeting of the Indian delegation, secretary of MoEA, Sonam Tshering said, “Reversion policy will be as per Bhutan’s reversion policy of the hydro power which is accepted by them”.
The economic affairs Secretary said the meeting ‘has progressed well’.
“They have agreed to go as per the policy. We have also resolved the issues regarding the joint venture and now we have to consult it to the government,” he said.
The report is yet to be approved by both the government at the moment. But in the meeting, it is accepted by the Indian government that raising the project debt will be done by the government of India and reversion of the project after the concession period will be done as per the policy of the project.
