Nepal’s centre-left cabinet has cleared the way for Indian firm GMR to build a $1.4-billion hydroelectric plant in the northwest of the country, a cabinet minister said, the Himalayan republic'sbiggest foreign investment scheme.
The Nepalese government agreed to allow GMR in 2008 to construct the 900-megawatt Upper Karnali hydroelectric power plant in the northwest.But the project was delayed as the nascent republic was mired in instability with six government changes in as many years. Political parties also demanded greater benefits for Nepal from the scheme that is mainly aimed at exporting electricity to power-hungry India.

Source - http://www.financialexpress.com