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Nepal, China sign 8 deals worth $2.24 billion

Nepal, China sign 8 deals worth $2.24 billion

Nepal and China on Wednesday signed eight agreements worth $2.4 billion on the second day of Prime Minister K.P. Sharma Oli’s visit.

These agreements were reached between the two governments and private sectors where Chinese investors will put money on developing hydroelectricity, water resources, cement factories and fruit cultivation and farming.

The signing ceremony took place at the Nepal Embassy in Beijing.

Additional memorandum of understandings will be signed on after delegation-level talks between Oli and his Chinese counterpart Li Keqiang.

Oli, who arrived Beijing on Monday on his five-day-visit, will meet Chinese President Xi Jinping on Tuesday afternoon at the Great Hall of the People in Beijing.