Shivam Cement receives Rs 1 crore in subsidy return for its energy efficient machinery installation; Banijya Bank makes payment on behalf of Energy Efficiency Program Nepal funded by German Government

Rastriya Banijya Bank has granted subsidy worth Rs 1 crore to Shivam Cement for its energy efficient operation under the Energy Efficiency Program Nepal funded by the German Government. The cheque amount for the subsidy was handed over by CEO of the bank Mr. Kiran Kumar Shrestha to the Manager of the Cement producer Mr. Nawal Kishor Chaudhary.

The program has been in place in Nepal since 2010 under the funding of German government where the big and small industries that install energy efficient and less polluting machinery for their production line will be eligible to receive 15% to 39% of their total investment as subsidy return, the total amount not exceeding Rs 1 crore.

The event was also attended by DY CEO of the bank Mr. Keshav Prashad Lamsal, DY Executive Officers Mr. Tek Raj Joshi, Ms. Saraswoti Adhikari, Mr. Devesh Lohani, ED of Shivam Cement Mr. Raghunandan Maru, KFW’s Nepal Representative and Energy Specialist Mr. Niroj Subedi, among senior level officials from all three sides, as per the media statement.