Investment of 581 crore in the Upper Rahughat project led by Kumari Bank

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Kathmandu. Tundi Power Company Private Limited arrange the investment of e 48.50 MW Rahughat Khola Hydropower Project. A loan of Rs 5.81 billion will be invested in the project under the leadership of Kumari Bank Limited.

The project is estimated to cost Rs. 8.30 billion. In addition to Kumari, Global IME Bank, Siddhartha Bank, Nepal Credit and Commerce (NCC) Bank and Machhapuchhre Bank will invest in the project.

Tundi and Kumari signed a loan agreement on Tuesday. The main developers of the project will be Himalayan Infrastructure Fund Limited, Tundi Investment Company Private Limited and Maheshwar Prakash Shrestha.

Similarly, the Chinese company Sichuan Ji Antai Energy Development Limited will be the foreign investor. The project aims to generate electricity by 2080 BS.

Kumari, which has been providing state-of-the-art banking services through its 192 branch network, 162 ATMs, 22 branchless banking units and 13 extension counters across the country, has been investing in various projects under national priority.

 

Source : Capital Nepal