Global IME Bank will invest Rs 5 billion, Siddhartha Bank Rs 4 billion, Lakshmi Sunrise Bank Rs 4 billion, Prabhu Bank Rs 3.5 billion, Krishi Bikas Bank Rs 1.5 billion, and Nepal SBI Bank Rs 1 billion.
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A bilateral agreement has been signed regarding the financial management of the 166 MW Super Tamor Hydropower Project, led by Global IME Bank.
The project promoter, Crystal Power Development Pvt. Ltd., and the participating banks have signed an agreement for financial management.
The agreement was signed in the presence of Global IME Bank CEO Surendra Raj Regmi, the bank's Assistant CEO Deepchandra Regmi, and Crystal Power Development Pvt. Ltd. Executive Director Krishna Prasad Acharya, along with co-leaders and representatives of the participating banks, in the presence of Global IME Bank.
'The consortium led by Global IME Bank, co-led by Siddhartha Bank, Lakshmi Sunrise Bank, Prabhu Bank and with the participation of Krishi Bikas Bank and Nepal SBI Bank will invest about 19 billion rupees in the project, which has an estimated cost of 25 billion rupees,' the bank said in a statement.
Of this, Global IME Bank will invest 5 billion rupees, Siddhartha Bank 4 billion rupees, Lakshmi Sunrise Bank 4 billion rupees, Prabhu Bank 3.5 billion rupees, Krishi Bikas Bank 1.5 billion rupees and Nepal SBI Bank 1 billion rupees, the statement said.
The estimated cost of the 166-megawatt hydroelectric project to be built on the Tamor River in Faktanglung Rural Municipality of Taplejung is Rs 25 billion.
