21 March, 2021
Kathmandu: The necessary financial resources have been mobilized for the 21.3 MW Thulo Khola Khola Hydropower Project in Nepal, which is about to begin construction with private sector investment. The hydropower project, which is being built by Sanyukta Energy Pvt. Ltd., has investors from various sectors, including individuals from the NRN.
A consortium of four banks and financial institutions led by Nepal Bank will invest more than Rs 2.52 billion in the project costing Rs 3.60 billion. On behalf of the debtor of the Syndicated Credit Facilities Agreement (SCFA) the chairman of Sanyukta Energy, Dr. Badri K.C and the banks, Deputy Chief Executive Officer of Nepal Bank Samata Panta handed over the agreement to each other during the ceremony.
The project has been financed by Nepal Bank at Rs. 751.25 million, Rastriya Banijya Bank at Rs. 660 million, Siddhartha Bank at Rs. 640 million and Sunrise Bank at Rs. 470 million.
Deputy Chief Executive Officer of Nepal Bank, Samata Pant, said that Nepali banks, including state-owned banks, have come to the right conclusion after analyzing various aspects including financial, technical and risk of the project.
He expressed confidence that the promoters of the project would make proper use of bank loans as they are eminent personalities and businessmen and the project would be completed on time and cost.
In the agreement program, the chairman of the developer Sanyukta Energy, Dr. Badri KC expressed the view that the perception that there is delay in government banks due to the experience of government banks’ initiative and quick action is wrong. He also expressed his commitment to speed up the construction work and build this hydropower project as a model in a timely manner and at low cost.
