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Three Gorges threatens to pull out

Monday, March 19th, 2012
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The controversy surrounding 750 MW West Seti Hydro project has put off investors who have written to the Energy Ministry expressing their disappointment at the ‘unnecessary media-mongering’. China’s reputed hydro company Three Gorges international has warned in its letter to the ministry that it may pull out if the government is not able to put an end to speculations.

The storm over the project heightened after the parliamentary committee questioned government’s decision to award the project to the company without any bidding. The opposition parties have also criticised lack of transparency in the West Seti agreement which has prompted the company to write to the government to keep the project free from politics.
The Ministry sources have revealed that the government is already preparing to write to Three Gorges and request the later not to pull out of the project. Joint Secretary Arjun Karki is a worried man, having led the government team in the agreement with the Chinese company, he is now trying to assure them of a positive environment at the earliest.

Besides company’s huge investment in the domestic projects, Three Gorges has so far invested in countries like Russia, Congo, Pakistan and Myanmar. The 22,500 MW project constructed by the company in Yangtze River is the world’s largest hydro project.

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