Based on memorandum of understanding signed by governemnt of Nepal and GMR, UKHP will be constructed in build, operate, own & transfer (BOOT) model by GMR. It will run the project for 30 years. According to deal, Nepal will get 12-13% of electricity thus produced at free of cost and 27% equity by Nepal Electricity Authority (NEA). Prefisibility studies conducted on UKHP have shown that it will produce very cheap energy given the nature (flow) of river, topology (high head) and mimimal compensation/resettlement cost. Production cost per unit of electricity will be less than that produced from Upper Tamakoshi and Budigandaki which are considered very attractive projects too. 13% of 900 watts is 117 megawatt which is almost like nothing when considered electricity demand projected by NEA by 2020 which is around 2,000 megawatt just for domestic consumption. Also GMR is selling electricity produced from UKHP to Indian Power trader at rate lower than current Nepal market rate. This directly affects the tariff generated for Nepal as lower revenue means lower tariff. In straight word Nepal will be cheated from getting what she deserves.
Foreign direct investment (FDI) is welcome in Nepal but it should also address our national interests. Just think of a situation if Nepal can construct this project mobilizing  FDI and national capita harvesting optimal capacity (4,000 megawatt) of this project.

@Kiddo: No this project is not going to be constructed in phase, 900 megawatt now and 4,000 megawatt later. Moreover GMR led project will be run of river type but it need to be constructed as multipurpose storage type project to harvest optimal capacity of 4,000 megawatt and to irigrate thousands of hectar of mid/far western region. Given contrasting model of construction it won't be feasible financially & environmentally to build on RoR model now and convert it later to storage type.