Nepal to buy Indian power company’s promoter shares

Nepal Electricity Authority (NEA) has been granted permission to purchase the share of IL and FS Energy Development Company Limited of India, a cross-border power transmission company, established for the development of a transmission line from the Nepal-India border line to Muzaffarpur, India. 

The Government of Nepal spokesperson, Minister for Communications and Information Technology, shared the decisions of the cabinet meeting with the media. In the meeting, it was decided to allow the NEA to buy over 2.97 million units of promoter shares of IL and FS Energy Development Company Limited.