Nepal says to scrap hydropower deal with Chinese firm

By Gopal Sharma KATHMANDU (Reuters) - Nepal's government said on Tuesday it will build a 750 megawatt hydroelectric plant that was earlier cleared to be developed by China's state-owned Three Gorges International Corp, in a surprise announcement made while laying out the annual budget. "We will mobilize Nepal's internal resources and build the West Seti hydroelectric project," the country's Finance Minister Yubaraj Khatiwada said while unveiling a $12.18 billion annual budget in parliament on Tuesday. The announcement effectively scraps a $1.6 billion plan by the Chinese firm to build the plant on West Seti river in the west of the Himalayan nation, the second such plant to be withdrawn from Chinese builders in six months

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