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Funding agreement for Lower Likhu Hydro project

Published On: February 24, 2018 08:40 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 24: A group of five financial institutes led by Laxmi Bank Ltd and Swet Ganga Hydropower and Construction Company has signed a facility agreement to finance the 28.1 MW run-of-the-river Lower Likhu Hydro Project, on Thursday. 

The project being constructed at Likhu Khola of Ramechhap and Okhaldhunga is set to cost around Rs 5.59 billion according to a report. The banks have committed to finance 75 percent of the project cost (Rs 4.19 billion) with the remaining 25 percent invested by the promoters and general public. 

The institutions pledging investment include Laxmi Bank, Kumari Bank, Century Commercial Bank, Prabhu Bank, and Hydroelectricity Investment & Development Company.

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