Nepali Businessman Upendra Mahato Invites Russia to Participate in Hydropower Project

Addressing a session titled “25 Years of SCO: A New Stage in the Development of Trade, Economic and Business Agenda” online at the St. Petersburg International Economic Forum (SPIEF) 2026, prominent Nepali entrepreneur Upendra Mahato invited Russia to participate in Nepal’s hydropower projects.

Mahato noted that the Shanghai Cooperation Organization (SCO) is the largest international regional organization in terms of geography, population, and opportunities. He highlighted that Nepal, as an SCO partner state, enjoys good relations with its two large neighbors, India and China, which he described as a key advantage.

He pointed out that following fundamental political changes in Nepal, a very young government led by a 36-year-old Prime Minister now governs the country, with a single party controlling two-thirds of parliament. He stated that this presents a unique opportunity for economic development and cooperation.

Emphasizing that Nepal’s main asset is its vast potential in hydropower and electricity generation, Mahato noted that this gains particular relevance in the context of artificial intelligence and information and communication technologies, topics widely discussed at SPIEF 2026.

Discussing the advantages of the Himalayas and mountain rivers, Mahato stated that Nepal benefits from natural high water pressure and lower costs for reservoir construction. He noted that investment opportunities exist in both power generation and transmission lines. He also expressed support for creating a Russia-Nepal-India triangle in the energy sector.