Nepal's national exchequer will earn a cool 29 million US dollars in royalties and taxes the first year once the 750 megawatt West Seti hydroelectric project comes on line and begins exporting power to neighbouring Indian states. As the years go by and royalty and tax rates keep piling up, the earnings will reach 157 million dollars in the 15th year and keep growing annuallly, according to West Seti promoters. But it could take years before the government gets to collect such vast amounts from West Seti. How many years depends entirely on just how smoothly negotiations proceed between project promoters and the eventual buyers of the West Seti power. For now, however, construction of the project has not even begun.