Banks and financial institutions will invest 12.7 billion rupees
The Ghunsa Khola Hydroelectric Project with a capacity of 77.5 megawatts, developed with the goal of making Nepalis who have gone abroad to become shareholders of the hydropower project, has received investment. The project is going to be constructed by Remit Hydro Limited.
Remit Hydro said that the multilateral loan agreement for the project was signed on Sunday. In the project, Lakshmi Sunrise Bank Limited will invest five billion, Hydroelectricity Investment Company Limited will invest three billion, Citizen Investment Fund will invest two billion, Machhapuchhre Bank will invest one billion 450 million, Everest Bank will invest one billion 250 million . Banks and financial institutions have agreed to invest 12 billion 700 million, according to the promoter company.
The project will be constructed using the water of Ghunsa river located in Phattanglung rural municipality-5 and 6 of Taplejung district. The estimated cost of the project is 18 billion 130 million including interest throughout the construction period. The financial management required for the project will be done through equity and debt investment.
In terms of institutional equity investment, Nepal Electricity Authority is 21 percent, Hydro Electricity Investment and Development Company Limited is 15 percent and Electricity Production Company Limited is 51 percent. Arrangements have been made to ensure that 49 percent of the total capital in the company is invested by people.
Out of 49 percent of ordinary shares, 29 percent has been ensured for Nepali citizens who have gone to foreign employment. Likewise, 10 percent of the project has been allocated for the affected locals and the remaining 10 percent for the general public. In the four years since the construction of the project The goal to complete is . The road to the project's power house and residential house, and the work of placing a bailey bridge at two places on the Tamor river has been completed.
