The construction of 25 megawatts Kabeli B 1 Hydro Project has begun in Panchthar district. The hydropower project is the largest in Mechi Zone.
Six years after the project received license from the Department of Electricity Development, construction work has started from Panchthar’s Nagi, Tharpu, Amarpur and Taplejung’s Thumbedin VDCs simultaneously.
Arun Kabeli Power Limited has been awarded the contract for the construction of the project. Technical director of Arun Kabeli Power Limited, Hastaman Rai, said civil construction of the project had begun. More than 700 workers are involved in construction work.
The project has purchased 288 ropanis of land at the cost of over Rs 60 million. The estimated cost of the project is Rs 4 billion.
The promoters will bear 30 per cent of the cost while various financial institutions, including Nepal Investment Bank, will bear the remaining 70 per cent.
The project is preparing to issue Initial Public Offering of 1,500,000 units of shares for the locals in the project affected areas.
Source : The Himalayan Times.