India and Bhutan signed concession agreement on the 600 MW Kholongchhu hydroelectric project (KHEL) on Monday (June 29). The hydroelectric project will be the first-ever joint venture project to be implemented in Bhutan. The joint venture partners of the project are India's Satluj Jal Vidyut Nigam Limited (SJVNL) and Bhutan's Druk Green Power Corporation Limited (DGPC).
Speaking at the signing ceremony via video conference, External Affairs Minister S Jaishankar said,"commencement of the construction activities of the Project will create economic and employment opportunities in Bhutan in this critical time."
KHEL will be the first joint venture project to be implemented under an Inter-Governmental Agreement (IGA) signed in 2014.