BY BIKASH SANGRAULA

KATHMANDU, Aug 19 - China's state owned Export-Import Bank (China Exim Bank) has agreed to extend financing of one billion US dollars for the 750 megawatt West Seti hydroelectric project to be built by Australia's Snowy Mountain Engineering Corporation (SMEC).

The Chinese bank and SMEC have already signed an agreement and the latter is announcing the agreement in Kathmandu Monday. The multi-billion rupee power project will be constructed by China National Machinery and Equipment Import and Export Company, according to the agreement.

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Posted by pichu at August 19, 2006 11:43 PM