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. [break]
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.
American team of investors arriving on June 29
An American team of investors who have invested in India are coming to Nepal on June 29 to explore possibilities of investment in hydropower among other sectors, said DPM Adhikari Tuesday.
“The US Ambassador to Nepal (Scott H DeLisi) met me yesterday [Monday] and said that a high-level team of American investors is coming to Nepal on June 29 to explore possibility of investment in the hydropower sector,” DPM Adhikari said during a function Tuesday afternoon.
The US Embassy in Nepal confirmed that a group of American investors with investment in India are indeed arriving here on that day but said the details about the members of the team and the sector they would be interested to invest in have yet to be obtained.
“We have been trying to attract American investors to the Nepali hydropower sector for a long time and have talked with potential investors and chamber of commerce here in the US,” stated Nepali ambassador to the US, Shankar Sharma.
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