Two banks on Sunday agreed to invest Rs 3.25 billion in Setikhola Hydropower Project to be built in Kaski district. An agreement this end was made in the capital city. The hydropower project of 22 megawatt is being developed from Setikhola Hydropower Company.
Kumari Bank and Infrastructure Bank would make Rs 2 billion and Rs 1.25 billion in loan investment, respectively. In the multilateral agreement, Ram Chandra Khanal of Kumari Bank, Bhupendra Pandey of Infrastructure Bank and Anup Acharya of the promoter company signed in the contract paper.
The company has already signed the power purchase agreement (PPA) with Nepal Electricity Authority (NEA).
According to the promoter company’s representative, construction works of the project will begin from coming December.
Source: National News Agency Nepal