Millennium Challenge Account Nepal Development Committee (MCA) Nepal has signed a transmission line construction contract worth 154 million US dollars (21 billion 63 million rupees). An agreement was signed between MCA Nepal and the construction party at a program held in Kathmandu on Thursday.

After the successful completion of the foreign aid review by the United States government, the Millennium Challenge Corporation (MCC) Nepal Compact has been reactivated with new energy and the joint commitment of both governments.

According to which, MCA Nepal has signed two major agreements today while advancing the compact electricity transmission project, which is jointly operated by the government of Nepal and the United States of America. MCA Nepal said that this is an important achievement for the transformative infrastructure construction projects being conducted in Nepal. .

An agreement was signed with the construction companies selected through the international bidding process on Thursday. According to which, MCA Nepal has entered into a construction contract for Ratmate-New Damauli transmission line with Angelic Skipper JV (joint venture) and New Damauli-New Butwal transmission line construction contract with Waiba Salasar JV (joint venture).

MCA-Nepal Executive Director Khadga Bahadur Bista and representatives of the two companies signed the agreement on Thursday in the presence of Ministry of Finance, Nepal Electricity Authority, Acting Vice President of MCC, representatives of MCC Residential National Commission, American Embassy officials. It is mentioned in the agreement that the construction of both transmission lines should be completed within 42 months. Under this contract, which has a combined cost of 15.45 million US dollars (about 21.5 billion Nepalese rupees), the design, installation, testing and operation of the 180 km long 400 kV transmission line will be carried out.

Ghanshyam Upadhyay, chairman of the board of directors and finance secretary of MCA Nepal, said that the financial support received from the US government is very important to implement the plan of the Nepal government regarding the construction of transmission lines and substations. He said that the government of Nepal should also continuously support this program to complete the project on time. He said that these transmission lines will prove to be milestones in the development and expansion of Nepal's energy sector.

'With the signing of the agreement, the MCC reaffirmed the mutual priorities and support of the United States of America in Nepal's development goals,'  Acting Vice President of MCC John Wingle said, "We are proud to work together with our Nepali counterparts to improve the availability and reliability of electricity in Nepal as well as to enhance regional electricity trade and interconnection." "Today's construction agreement is not only an achievement, but a tangible symbol of the United States' permanent commitment to Nepal's development and prosperity,"  Jason Meeks, Deputy Chief of Mission of the US Embassy in Nepal, said, 'Through this partnership, we are not only building electricity transmission lines and economic infrastructure, we are also accelerating the long-term development of Nepal.'

MCC Compact Nepal is an important cornerstone of cooperation between Nepal and the United States and it will benefit all Nepali citizens. He said, 'We feel proud to move forward together with the bright future of Nepal and Nepalese.'

Executive Director of MCA Nepal, Bista said, 'We appreciate the continuous support and latest permission from the US government to advance the compact. Today's important achievement reflects the common commitment of the Nepalese government and all stakeholders towards this national pride project.'  . Bista said that MCA Nepal will continue to focus on the successful construction and implementation of programs under the project with sustainable cooperation.