Kathmandu, Oct. 19 -- delayed 900-megawatt Upper Karnali Hydropower Project in western Nepal, which has struggled for years to secure investment, is now set to move towards construction.

The 68th meeting of Investment Board Nepal recently decided to facilitate the immediate commencement of construction in accordance with the provisions of the Project Development Agreement (PDA).

However, the Investment Board Office has yet to send an official letter communicating the decision to the project developer, India's GMR Group, or Grandhi Mallikarjuna Rao Group.

The company said it would proceed accordingly once it receives the official letter.

GMR had submitted the necessary documents earlier, but financial closure had remained elusive.

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