National Commercial Bank will invest 67.5 million rupees
Investments have been made in the 4.6 MW Super Machakhola hydropower project to be built in Gorkha. An agreement was signed on Thursday between Nepal National Commercial Bank and Budhigandaki Hydropower Company to invest in the project.
The agreement was signed by the company's chairman Khagendra Neupane and the bank's CEO Devendraraman Khanal.
70 percent loan and 30 percent equity will be invested in the project estimated to cost 963.8 million 30 thousand rupees. According to the promoter company, the National Commercial Bank will invest 674.6 million 80 thousand rupees towards loan investment. The remaining 28 crore 91 lakh 50 thousand rupees will be equity investment.
Khanal said that the bank is investing in small and large hydropower projects. "We are investing in the second project of Budhigandaki company," he said. "The project will provide support there from road infrastructure to tourism promotion," he said, "the company will also issue shares soon." "Earlier there was no knowledge about the construction of hydropower projects, now we know about everything from penstock pipes," he said, "now we have gathered experience about hydropower." The
project will generate 27.379 gigawatt hours of electricity annually. 18.621 gigawatt hours will be produced in rainy season and 8.75 gigawatt hours in winter.
Company Chairman Neupane, Managing Director Krishna Ghimire and Director Saroj Dhital are going to build the project. This group has already constructed and put into operation the 4.55 megawatt development hydropower hydropower project 6 months before the scheduled period.
On June 21, 2080, the project entered into an electricity purchase-sale agreement with the Nepal Electricity Authority. The detailed project report (DPR) of the project has already been prepared by Units Engineering Consultancy last September. The transmission line of the project will be switched to Vikas Hydropower and connected to Salyantar sub-station in Dhading. The project is preparing to issue shares to the general public soon.
