The Union Minister for Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti has informed the upper house recently about the Pancheshwar Dam project that is coming up in Uttarakhand. As per the Article 3(c) of the Mahakali Treaty, 1996, the cost of the project is to be shared between India and Nepal in proportion to the benefits accruing to them. The Mahakali Treaty stipulates sharing of total energy generated equally between India and Nepal and sharing of cost in proportion to the benefits (including power) accruing to them. The preliminary estimates drawn in February 2015 indicates the project cost to be around Rs 34971.94 crore
As decided in the second meeting of the Governing Body of the Indo-Nepal Pancheshwar Development Authority (PDA) held in November 2014, the preparation of detailed project report along with firming up its cost has been entrusted to WAPCOS Ltd.