October 10: The first meeting of the Punatsangchu Hydroelectric Power Authority was held between the Bhutanese and Indian officials in Thimphu on Monday.

It was chaired by the Information and Communication Minister, Lyonpo Leki Dorji.

The Indian Ambassador to Bhutan Mr. Sudhir Vyas and the Bhutanese Ambassador to India, Lyonpo Dago Tshering were also present at the meeting.

The Indian Government will be providing Nu. 35,148 million for the project. Of which, 40% of the money comes as grant and 60% as loan.

The Punatsangchu Hydroelectric Power is expected to generate 1095 mega watts of electricity most of which will be sold to India.

The initial work for the project is expected to begin after the next meeting which will be held in New Delhi.

By 2020, Bhutan will sell 5000 MW of power to India.