Melbourne, Australia:
Fortescue Metals Group Ltd, an Australian company and a global leader in the iron ore industry has expressed an interest in investing in Nepal’s hydroenergy sector. As per reports, a high-level team of Fortescue including its Chairperson Andrew Forrest will be arriving in Nepal this week to discuss the prospective investment.
Last week, in a virtual meeting, the Australian company had shared a proposal to generate 500 megawatt electricity in Nepal with officials of the Ministry of Energy, Water Resources and Irrigation of Nepal.
Minister for Energy, Barshaman Pun told the outgoing Australian Ambassador to Nepal, Pete Budd on Friday that his ministry has taken the proposal positively, according to a press release issued by the minister’s secretariat.
The arriving team will hold meetings with President Bidya Devi Bhandari, Prime Minister KP Sharma Oli, Energy Minister Pun, Foreign Minister Pradeep Kumar Gyawali and Minister for Commerce, Lekhraj Bhatta.
Nepal and Australia are celebrating 60 years of diplomatic relationship with each other in 2020. Outgoing Australian Ambassador to Nepal, H.E. Peter Budd met with Energy Minister Barsha Man Pun on Friday to discuss the prospective investment. The Australian Embasssy in Nepal and the Nepalese Embassy in Canberra are both eager to push the proposal, which could be an significant milestone in Nepal-Australia relations.
About Fortescue Metals Group Ltd:
Fortescue Metals Group is a proud West Australian company, and is the world’s fourth largest iron ore producer. Its projects include Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.
