Agreement reached to invest in Myagdi Khola hydropower project
KATHMANDU, November 08 : A consortium of five financial institutions has committed to invest in the Myagdi Khola hydropower project being constructed by Hydro Village Pvt Ltd, in the Myagdi district.
As per the agreement reached between the Nepal Bank-led consortium and the company yesterday, the former will pour Rs 8 billion into this 573-MW project. On behalf of the consortium, Laxman Poudel of Nepal Bank, Ramkaji Thapa of Mega Bank, Sudip Kumar Dahal of Agriculture Development Bank, Thakur Jung Thapa of the Employee Provident Fund and Manoj Kumar Gautam of Nepal SBI Bank inked the deal on behalf of their respective organisations. Similarly, it was signed by Rameshwar Thapa representing Hydro Village. The total estimated cost of the project is to the tune of Rs 10.74 billion.
Apart from the financial institutions and the company, the local people, Hydroelectricity Investment and Development, Energy Developers, Simrik Venture and Malaysia-based Aqua Venture will have their stakes in the project .
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