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Kathmandu,Friday January 14, 2000 Paush 30th, 2056.
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Biggest foreign investor sees huge potentiality in Nepal
-By a Post
Reporter
KATHMANDU, Jan 13
- Hans O Bjontegard, Chairman of Statkraft, Nepal’s biggest foreign investor, sees
huge potentiality in foreign investment environment in Nepal. Bjontegard is really
impressed with the huge hydropower generation capability of the country, and sees many
foreign investments coming to harness it.
Statkraft is the
public utility company owned fully by the government of Norway. It currently generates
over nine thousand mega watts of power through various companies in Norway. This
production equivalents to one-third installation capacity of Norway. In addition, the
company has been producing another 2 thousand mega watts of power in foreign companies in
joint venture.
Chairman
Bjontegard was recently in Nepal as a delegation member of his Foreign Minister Knut
Vollebaek, who also opened Norway’s Embassy in Kathmandu. “We are delighted that
political and economic relations between the two countries are prospering,” he told
The Kathmandu Post Wednesday.
Statkraft has
become the country’s largest foreign investor with the investment of 40 million US
dollars, which makes up 80 percent of the equity share in Khimti Hydropower Project. The
cost of the 60MW project is billed at US$ 150 million. “Khimti is not only a
big project for Nepal, we also consider it as a big project in our standards,” he
added.
According to
Chairman Bjontegard, Khimti project has been a big challenge. “We therefore, are very
much eager to see it completed timely by June,” he said. He considers completion of
Khimti as a very big milestone to have that happened.
He thinks
Norway’s experience in hydropower could be very useful for the development of
Nepal’s water resources.
“I think,
you as a country has very interesting future. Not only our company but others can also
invest in generation and transformation business of this country,” he added.
Norway’s
development experiences in other infrastructures like railway, water supply, road etc. can
also be utilized by Nepal. “I think some other companies from Norway would certainly
be interested in transmission of electricity, the business grows as Nepal is exporting its
power to other countries,” he added.
His company
Statkraft would also be interested to invest in other lucrative projects in Nepal.
“My people are studying the prospects in Nepal to continue our investment
relations,” he announced. “Khimti will be a model for Nepal to attract more
foreign companies. That is also a reason we are keen to make it a success,” he added.
Statkraft
Chairman Hans O Bjontegard is educated as an engineer, studied in Norway and the USA. He
worked with ESSO for seven years. Then he worked in a Norwegian industry for 30 years. He
then became Executive Vice President at Norskhydro for ten years. Again he joined another
Norwegian industry Dyno Industries as President and CEO.
The 65-year old
gray-haired gentleman is currently president of Statkraft and several other companies in
Norway.
When asked whether the twice bidding and
ultimate decision of re-biding of Butwal Power Company has any bad impact on the investors
of Norway, he said none. “Inter Kraft and Statkraft are two different companies of
Norway and we have different approach of business in Nepal. However, we think the decision
taken by the government regarding re-biding should have no negative impact among
international investors,” he added.
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