Chilime signs Rs 16b loan MoU with EPF
KATHMANDU, June 8:
The Employees´ Provident Fund (EPF) signed a Memorandum of Understanding (MOU) with Chilime Hydropower Company Limited Tuesday to provide a loan of Rs 16.05 billions for development of four projects with total capacity of around 260 MW.
Managing Director of Chilime Kul Man Ghising and Administrator of EPF Dr Ramesh Bhattarai signed the MOU in the presence of Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari, Minister for Energy Gokarna Bista and Information and Communications Minister Agni Prasad Sapkota amidst a function Tuesday afternoon.
Three of the projects -- Sanjen (42.5 MW), Upper Sanjen (14.5 MW) and Rasuwagadhi (102 MW) -- will be constructed in Rasuwa and the fourth Middle Bhotekoshi (100 MW) will be built in Sindhupalchowk. Sanjen and Upper Sanjen projects are expected to be completed by 2015 while the other two are expected to be completed a year later.
Chilime, a subsidiary of NEA, said the quartet of projects would require around Rs 32 billion for completion and the rest Rs 16 billion would be equity investment. The promoters would be allotted 51% shares with the rest 49% allotted to general public including locals, staffers of EPF and EPF depositors.
Chilime has been currently operating a 22.1 MW project in Rasuwa.
Source: Republica
The Employees´ Provident Fund (EPF) signed a Memorandum of Understanding (MOU) with Chilime Hydropower Company Limited Tuesday to provide a loan of Rs 16.05 billions for development of four projects with total capacity of around 260 MW.
Managing Director of Chilime Kul Man Ghising and Administrator of EPF Dr Ramesh Bhattarai signed the MOU in the presence of Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari, Minister for Energy Gokarna Bista and Information and Communications Minister Agni Prasad Sapkota amidst a function Tuesday afternoon.
Three of the projects -- Sanjen (42.5 MW), Upper Sanjen (14.5 MW) and Rasuwagadhi (102 MW) -- will be constructed in Rasuwa and the fourth Middle Bhotekoshi (100 MW) will be built in Sindhupalchowk. Sanjen and Upper Sanjen projects are expected to be completed by 2015 while the other two are expected to be completed a year later.
Chilime, a subsidiary of NEA, said the quartet of projects would require around Rs 32 billion for completion and the rest Rs 16 billion would be equity investment. The promoters would be allotted 51% shares with the rest 49% allotted to general public including locals, staffers of EPF and EPF depositors.
Chilime has been currently operating a 22.1 MW project in Rasuwa.
Source: Republica
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