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Attack on GMR to cost Nepal dear - Economic Times

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Attack on GMR to cost Nepal dear

May 27, 2011, 02.07pm IST

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Tags: Upper Marsyangdi

Upper Karnali Hydropower Project

GMR Infrastructure Ltd.

GMR Energy-led consortium

G . Subba Rao

Energy Minister Gokarna Bista

KATHMANDU: The attack on Indian infrastructure and energy major GMR's power project in western Nepal by Maoists Sunday is going to cost the Himalayan republic dear with the 900 MW hydropower project now unlikely to meet its 2016 completion date. Five days after the GMR Energy-led consortium's Upper Karnali Hydropower Project's camp site in remote Dailekh district was burnt down, police failed to make any arrests while the company pulled out its employees from the charred site due to fear for their security, bringing all work to a grinding halt.

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The act of arson and vandalisation Sunday destroyed all the three pre-fabricated buildings in Dailekh, including the GMR site office with its computers and documents. The nearly $469 million project's environmental impact assessment was on the verge of completion when the attack occurred and the public hearings on the report were to have been held in June.
GMR Infrastructure Ltd. BSE NSE

But now with the data lost, the work will be delayed. More than the lost data, the fear of further attacks and the pulling out of all personnel will cause the delay to go up further, causing an escalation in costs as well. Soon after the attack, the second in two months, GMR's director G. Subba Rao and Harvinder Manocha, GMR Energy's associate vice-president as well as country director for Nepal, rushed to Nepal to assess the situation and hold talks with Nepal's Energy Minister Gokarna Bista and all lawmakers from the three districts spanned by the project - Dailekh, Accham and Surkhet. The officials have been pushing for concrete action against the culprits and a real assurance of security.

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RELATED ARTICLES Nepal's Supreme Court vacates stay order against GMR project
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Though the Maoist leaders denied having any hand in the arson and promised to take action against any cadre, if found guilty, the assurance has not been bought by GMR or the Indian officials in Nepal. Besides Dailekh, Accham and Surkhet being Maoist strongholds, GMR's projects in Nepal, including the 600 MW Upper Marsyangdi, have been regularly threatened by the Maoists with their top leaders demanding that their licences be scrapped. The attack on GMR comes even as other major Indian investments in Nepal, like the Manipal Group, and United Telecom Ltd, have been regularly facing labour trouble, harassment and discrimination by the government. The Independent Power Producers' Association of Nepal warned the government in a press statement that such attacks would demolish investors' confidence in Nepal. Besides the Indian investor, Nepal itself stands to lose considerably if the project is delayed or at the worst, scrapped.

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IN-DEPTH COVERAGE Nepal

articles.economictimes.indiatimes.com/2011-05-27/news/29589892_1_upper-karnali-hydropower-project-maoist-leaders-gmr-energy

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Attack on GMR to cost Nepal dear - Economic Times

While a consortium of GMR Energy Limited, GMR Infrastructure Limited and Italian-Thai Development Project is developing the Upper Karnali, Nepal Electricity Authority gets 27 per cent free equity and Nepal gets 12 per cent of the power generated free. Facing an 18-20 hour daily power cut during the dry winter and summer seasons, Nepal has been banking on the Upper Karnali project to ease the power crisis within the next five years. Any delay would add to the power woes of the Himalayan republic.

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Also, the Upper Karnali attack, unless its perpetrators are brought to justice, will sour relations between Nepal and India as the security of Indians and Indian investments was among Indian External Affairs Minister S.M. Krishna's prime concerns during his visit to Nepal last month.

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Attack on GMR to cost Nepal dear - Economic Times

Readers' opinions (3)
Sort by: Newest | Oldest vaidyanathan k iyer (tirupati") 15 Jun, 2011 07:45 AM This should be an eye opener for people who opt for separate Telangana wherein too the dominance of Maoists more thanks to its undeveloped for, as per their own claim they will seek that path as others denied them their share. However, our governance purpose is to keep the impoverished as impoverished to vote for few to loot the nation is the meaning of political parties if no political party is canvassing to increase the per capita of the citizen is any indication in the first place. H. Shailesh (Mumbai) 28 May, 2011 02:20 PM This is Chinese way of getting rid of competition. Once Indian companies are out, they will come and set up the project with full support of Nepalese government. India now needs to kick a few butts in Nepal, if it wants it's companies to function. Nepal is not a loser, it's India. Y. K. Jain (Bharat) 27 May, 2011 03:05 PM Nepal is following: "JIS HAANDI MEIN KHAO USI MEIN CHHED KARO".

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