The Nepal Electricity Authority (NEA) is investing Rs 3 billion for a joint venture to be established for the development of two cross border transmission lines.

The NEA and India's Power Grip Corporation will have their investments in the JV, according to the Ministry of Energy, Water Resources and Irrigation.

The Ministry stated that Rs 1 billion will be invested for the JV to be established in Nepal and Rs 2 billion in India as the equity share. The NEA would invest the amount from its own internal resources.

As already agreed by the officials of the two countries, the JV is set up for the construction of Inaruwa-Purniya and Dodhara-Bareli cross border transmission lines.

The important transmission lines for energy exchanges would be completed by 2030.

It is said that the JV to be established in Nepal will have 51 percent in shares from the NEA and 49 percent from the Indian Power Grid Corporation.