KATHMANDU: The Betan Karnali Hydropower Project (439 MW) has officially entered the construction phase following the approval of its Environmental Impact Assessment (EIA) report.
The ministry approved the EIA report of the semi-reservoir project situated on the borders of Surkhet and Achham districts two weeks ago, according to project officials.
The estimated cost of the project is Rs 88 billion including interest on bank loans. A consortium led by Global IME Bank is investing Rs 54 billion in the project, while the promoters will chip in the remaining amount as equity investment. However, the project is yet to achieve financial closure.
Betan Karnali Sanchayakarta Hydropower Ltd, a subsidiary of the Employees Provident Fund (EPF), is implementing the project, while NEA Engineering Company Ltd is the consultant. Contributors of the EPF hold a 40% stake in the company, while EPF owns 15% of the shares. The Nepal Electricity Authority (NEA) and Vidyut Utpadan Company Ltd each own a 10% stake. The remaining 25% is intended to be raised through a public issue.
Himal Press
15 Jan 2024
