Budhigandaki Jalvidyut Public Limited Company’s Chief Executive Officer (CEO) has been named by the government as Jagat Shrestha.
The company’s CEO will make all the necessary preparations for the construction of the 1200 MW Budhigandaki Reservoir Hydropower Project. The Minister of Energy, Water Resources, and Irrigation has made a decision.
The company was founded on August 17 of last year with the intention of constructing the project under the direction of the Ministry of Energy. However, the project is currently moving forward under the direction of the Nepal Electricity Authority. The government appointed Shrestha as CEO. He also serves as the coordinator for the Budhigandaki hydropower project’s environmental, compensation, rehabilitation, and rehabilitation units. He was a previous assistant dean and a former director of the Infrastructure Development Center. He has taught at the Institute of Engineering Studies for 25 years.
Shrestha, who has been named as the chief executive officer, stated that he will be actively involved in the project’s foundation-laying. “I will soon start laying the foundation stone for the project after making other preliminary preparations, including the management of the field office for the project.”
The government made the decision to form a business last year in order to raise domestic capital for the Budhi Gandaki project. The authorized capital and issued capital of Budhigandaki Jalvidyut Company Limited are both 20 billion rupees, as stated in the company’s articles of association. 16 billion rupees is the maximum amount of capital approved for prompt repayment.