Machhapuchchhre Bank & 2 other commercial banks signs pact with Tehrathum Power Company for consortium loan

Tehrathum Power Company Private Limited has signed pact with Machhapuchchhre Bank Limited and two other commercial banks for consortium financing on Magh 24, 2073. Machhapuchchhre Bank as the leading bank, Nepal Bangladesh Bank and Janata Bank Nepal has signed the pact for providing consortium loan of Rs 1 arba for the construction of 7.5 MW Upper Khorunga Hydroelectricity Project. Of the total Rs 1.37 arba expense, Bank and Financial Institutions (BFIs) will bear 73% expense of the total investment and the remaining 27% of the investment will be covered by the hydropower company’s promoters. Upper Khorunga Hydroelectricity Project is located in Morhang VDC of Tehrathum district. The construction of the project is aimed to start within a couple of months after the agreement and the project is aimed to generate electricity by Poush 1, 2076.