Darwang Myagdi hydel project secures Rs3.5b loan

- Post Report, Kathmandu

Feb 15, 2018-

Darwang Myagdi Hydroelectric Project on Wednesday has arranged fund for the construction of 25MW power plant with half a dozen banks and financial institutions agreeing to extend loan. The project signed loan agreement worth Rs3.5 billion with a consortium of banks led by Sanima Bank. Prabhu Bank, Kumari Bank, Century Commercial Bank, Muktinath Bikas Bank and Maha Laxmi Bikas Bank are other members of the consortium. The remaining development costs of the project will be raised using equity financing from the promoters as well as general public through initial public offering. The estimated cost of hydropower project being developed at Myagdi River in Myagdi district is Rs5.14 billion. (PR)

Published: 15-02-2018 09:53

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