United Mewa Khola Hydropower Project Progresses Towards 50 MW Capacity: United Modi's 30% Investment

Tue, Apr 9, 2024 11:34 AM on Latest, IPO/FPO News, Corporate,

United Mewa Khola Hydropower Limited is overseeing 75 percent of the construction of the Mewa Khola hydropower project, aiming for a capacity of 50 MW.

United Modi Hydropower Limited has invested 30 percent, amounting to 67 crore rupees, in this venture. Citizens Bank International Limited is the loan provider for the project, located in Wards No. 3, 4, and 5 of Taplejung District.

The total project cost is estimated at 900 crore rupees. Executive Chairman E. Ashish Thapa stated that construction began in the Poush month of 2078 and is scheduled for completion by Ashwin 2081, with plans to connect to the national transmission line.

The company is preparing for an IPO issue, with Citizens Capital Ltd. appointed as the sales manager. Additionally, the project has created employment opportunities for over 400 individuals directly and indirectly.