KATHMANDU, July 18:
The project with its site at Fungling VDC of Taplejung district will have Nepali and European investors and will be started from November, said Project Chief Bhanendra Kumar Limbu. The locals will be provided with 10 percent shares for the Rs. 18 billion project without any precondition.
The project has completed Environmental Impact Assessment (EIA) works and its report will be available within some days. Hong Kong Nepalese in the name of Spark Hydro Cooperation Committee, have shown interest in its investment, said Project Chief Limbu.
Assisting in investment will be European investors, he said. The site is four-km from Andheri of Taplejung portion of Mechi Highway and the road has been constructed by the Rural Road Project.
The project itself will upgrade the road. Fungling, Khokling, Lingtek and Liwang VDCs of Taplejung will be affected by the project.
Locals have pressurized to start the works very soon, and it will be started from November to complete it within four years and the electricity generated will be linked with central grid by constructing substation at Fungling.
The generation license will be received very soon from the Department of Electricity Development, said Limbu.
The run-of-the-river project is the largest so far in the eastern region to be constructed in the private sector.