Kathmandu, 13 Sep 2022. Trishuli Jalvidyut Company Limited, the promoter of the 37 MW Upper Trishuli 3B hydropower project under construction in Rasuwa and Nuwakot, will collect the remaining amount for the shares issued to the general public from September 20. The last date to pay the amount will be 3rd October.
Under the People’s Hydropower Program, the company issued 37 lakh 5 thousand shares to the public in March 2075 (including reservations for the company’s employees) and collected only 10 rupees, which is a minimum of 10 percent of the nominal value of 100 rupees per share. 1 lakh 54 thousand 559 ordinary shareholders have to pay the remaining 90 rupees per share after paying 10 rupees per share in the company’s share distribution.
Mohan Prasad Gautam, managing director of the company, said that the remaining 90 percent of the share price will be collected from ordinary shareholders at the rate of 90 percent.
Until the last date of payment, the company has to pay 8 percent annual interest in the People’s Hydropower Program (Operation and Management) Procedure, 2075. While Wamojim shareholders will receive interest of Rs. 3 per share, currently they will have collected only Rs. 87 per share.
Banks and financial institutions participating in ASWA service and their branch offices and shareholders can also make payment/application through the ‘My Share’ software provided by CDS and Clearing Limited. The shareholders do not have to pay the guarantee fee while paying the amount in this way. Global IME Capital Ltd. in Securities Issuance and Sales Manager. has been
According to the People’s Hydropower Program (Operation and Management) Procedure, 2075, the amount remaining to be paid for shares should be demanded only after 50% of the physical progress of the project and all the amount of shares agreed to be paid by the shareholders of the founding group of the company. “Since the provisions in the procedure have been completed, we have called for the collection of 90 rupees to be paid by the former shareholders,” said Managing Director Gautam.
The promoter of the project, Trishuli Jalvidyut Company Limited, has 30/30 percent founding shares of the Authority and Nepal Telecom. In the company, there will be 5 percent of the rural municipalities and municipalities of Rasuwa and Nuwakot, 5 percent of the local financial institutions of Rasuwa and Nuwakot, 10 percent of the residents of Rasuwa and Nuwakot, 15 percent of the general public and 5 percent of the employees of the authority and telecom.
The total estimated cost of the project is 7 billion 44 crore 56 lakh 48 thousand rupees excluding interest during the construction period. It is estimated that the total cost of the project will be Rs. Of the estimated construction cost of the project excluding interest during the construction period of 7.44 billion rupees, 30 percent equity (2.47 billion rupees) and 70 percent debt (5.76 billion rupees) have been raised.
The construction of the project was carried forward with the goal of completion in Faghun BS 2077. However, since the Chinese workers who went to their homes to celebrate the New Year in the second week of Magh 2076 BS could not return due to the covid-19 and because the Rasuwagadhi crossing was closed for a long time, construction materials and equipment could not be brought from China, the construction of the project, which was in full swing, was halted for about 15 months.
Since the construction of the project was resumed only from Chitra 2077BS, the work was again affected for about three weeks due to the second and third wave of Covid-19. In addition, the construction of the project was affected due to the discovery of much weaker rock than anticipated in the main tunnel. The Chinese contractor company Shuifa ANHE Group Co.Ltd, China. is currently constructing main structures such as the intake, the main tunnel, and the power plant.
On 29 Mach 2074BS, a contract agreement was signed with Shuifa ANHE Group Co.Ltd, China. The contractor company will design, build, install and operate all the structures and equipments for the civil, electromechanical and hydromechanical side of the project.
As it is a cascade project of the 60 MW Upper Trishuli 3A hydropower project built by the Nepal Electricity Authority, the Upper Trishuli 3B does not need to build structures such as dams, sand settling ponds (descenders). The gate required to send the water released after power generation from Upper Trishuli 3 A power plant to the tunnel of the project has been installed.
The overall construction progress of the project is 65 percent, and the target is to be completed by October 2080. The project will produce 134,880,000 units of electricity in the dry season (from December 16 to December 15) and 157,771,000 units of electricity in the rainy season (from December 16 to December 15). The generated electricity will flow to the national system through the currently operational Samunda-Tar-Trishuli 3V hub transmission line.
