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India, Bhutan sign pact for first joint venture hydropower project

The 600 MW Kholongchhu project is one of four additional projects agreed to in 2008India and Bhutan took a major step forward for the construction of the 600 MW Kholongchhu project, their first hyower joint venture project in Bhutan’s less developed eastern region of Trashiyangtse. The project’s “Concession agreement,” which was signed in the presence via video-conference of External Affairs Minister S. Jaishankar in Delhi, and Bhutan’s Foreign Minister Tandi Dorji and Economic Affairs Minister Loknath Sharma in Thimphu, marks a shift as it is the first time an India-Bhutan hyower project will be constructed as a 50:50 joint venture, not as a government-to-government agreement.Speaking at the ceremony, both Foreign Ministers called the agre.....

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