China's Three Gorges International is to build the US$ 1.6B West Seti hydropower plant in west Nepal, the largest ever foreign investment project in the country.

According to an agreement signed between the Nepal government and Three Gorges, the latter will own 75% of the 750 MW project while Nepal’s state-owned electricity monopoly Nepal Electricity Authority will own a 25% share.

If all goes to plan construction of the dam will begin in 2014 and project will be completed in 2019. The produced power is for Nepal’s domestic consumption but could be exported to India if there is a surplus, according to Nepal’s Ministry of Energy.