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Kathmandu, 6 June: The Chinese firm Gezhouba has pulled out from the Budigandaki project after the Nepal Government failed to increase the cost of the project.

According to Annapurna Post daily, Gezhouba had received the project without competition. The Chinese firm which has been ‘out of contact’ for the past four months, however, hasn’t officially stated that it was withdrawn from the project. Sources close to the project say that the deal between the Chinese firm and the Government fell through because Energy Minister Barsha Man Pun refused to agree to increase project finances.

People’s News Monitoring Service