Nepal Prime Minister Pushpa Kamal Dahal alias 'Prachanda' will hold a joint press conference with Prime Minister Dr Manmohan Singh [Images] on Wednesday,  Nepal's foreign minister Upendra Yadav informed mediapersons in New Delhi [Images] on Tuesday.

Yadav added that this was the beginning of a new relationship between India and Nepal, which wants to be treated as an equal, not as a 'younger brother'. 

Nepal PM Prachanda meets Manmohan Singh

However, Yadav refused to elaborate on the points in the bilateral treaty which Nepal wanted revised. "Whether we need to renegotiate the entire treaty, or parts of it, would be known only after the secretary-level talks," he said.

He confirmed that India and Nepal would soon sign an extradition treaty.

Prachanda for revolutionary change in India ties

Yadav pointed out that flood waters of the Kosi [Images] had caused wide scale damage to both countries. "We need to have a mega power project," Yadav said.

"Indian businessmen have shown keen interest in power projects in Nepal," he added but refused to give financial details about the project.