Himalayan Bank to take a lead role in financing API Power third project Upper Chameliya

Himalayan Bank Ltd. will take a lead role in financing the 40 MW Upper Chameliya to be built by Api Power Company Limited. The Board of Directors of Himalayan Bank Ltd. has now decided to finance the project through the consortium. This means other banks will also participate in financing the project jointly.

The company has started construction work of its third project on the Chameliya river already.

The company aims to complete the construction within 30 months, said Sanjeev Neupane, executive director of the company. This is the third project of the company in Darchula district itself. Earlier, the company completed the construction of 8.5 MW Naugad Gadh and 8 MW Upper Naugad Gadh and has been earning revenue since then. 

For this very project, Api Power Company has called for 1: 0.47 right shares for its shareholders by the second week of Shrawan.